AUDUSD Analysis – Mar 12, 2008

AUDUSD broke below the price channel support and formed a cycle top at 0.9496 level on daily chart. The pair is now in down trend. Pullback to test 0.8512 previous low support is expected. Near term resistance is at 0.9496, only break of this level will signal the resumption of the up trend.

For long term analysis, AUDUSD is forming a long term cycle top at 0.9496 level. Sideways consolidation in a range between 0.8512 and 0.9496 is expected.

audusd daily chart