AUDUSD Analysis – Apr 23, 2008

AUDUSD breaks above 0.9496 previous high. Further rise to 0.9600 area to reach the next cycle top on daily chart is still possible in the next several days. Near term support is at the up trend line from 0.9031 to 0.9205, a break of the trend line support will signal the reversal to the current trend.

For long term analysis, AUDUSD breaks above 0.9496 previous high and is back to long term up trend. Further rise to 1.0000 level is expected after consolidation.

audusd daily chart