AUDUSD is testing 0.9252 resistance, and further rise to 0.9400 area to reach the next cycle top on daily chart could be seen if 0.9252 resistance gives way. However, rebound from 0.8953 is treated as correction to the long term down trend, and a break of 0.8953 level will signal the resumption of the long term down trend.
For long term analysis, AUDUSD formed a long term cycle top at 0.9496 on weekly chart. Sideways consolidation in a range between 0.8512 and 0.9496 could be seen.
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