AUDUSD Analysis – September 26, 2009

AUDUSD remains in uptrend from 0.7703 and the rise extends to as high as 0.8788 level. Further rise is still possible next week and next target would be at 0.8950-0.9000 area. Near term support is at 0.8543, as long as this level holds, uptrend will continue, however below 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