AUDUSD Analysis – April 30, 2011

AUDUSD’s bullish movement extended further to as high as 1.0976. Support is at 1.0750, as long as this level holds, uptrend from 0.9704 could be expected to continue and next target would be at 1.1200 area.

For long term analysis, AUDUSD had formed a cycle bottom at 0.9537 level on weekly chart. Further rise to 1.1500 area is expected in next several weeks.

audusd daily chart