AUDUSD Analysis – September 19, 2009

AUDUSD remains in bullish movement from 0.6248. Further rise is still possible in a couple of week and target would be at 0.8900-0.9000 area. Near term support is at 0.8543, as long as this level holds, we’d expect uptrend from 0.8155 to continue, however below this level 0.8543 will take price back to 0.8350-0.8400 area.

For long term analysis, AUDUSD is in long term bullish movement. Further rise towards 0.900-0.9500 area to reach next cycle top on weekly chart is possible in next several weeks.

audusd daily chart