AUDUSD Analysis – February 27, 2010

AUDUSD might be forming a cycle top at 0.9070 level on daily chart. Pullback to 0.8700-0.8750 area would more likely be seen in a couple of week. As long as 0.8577 support holds, we’d expected uptrend to resume after correction and one more rise to 0.9300 is possible. Only fall below 0.8577 could trigger another fall to 0.8000 area.

For long term analysis, AUDUSD might be forming a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.

audusd daily chart