AUDUSD Analysis – June 25, 2011

AUDUSD is testing 1.0440 support, below this level will target 1.0200 zone. Resistance is at 1.0650, only break above this level could indicate the fall from 1.0773 is complete, then another rise towards 1.1011 could be seen.

For long term analysis, AUDUSD had formed a cycle top at 1.1011 level on weekly chart. Deeper decline could be seen in next several weeks, and target is at 0.9500 area.

audusd daily chart