AUDUSD Analysis – May 21, 2008

AUDUSD is in up trend. Further rise to 1.0000 area is expected after consolidation. Initial support is at the up trend line from 0.8953 to 0.9291, and followed by 0.9275, as long as 0.9275 support holds, up trend will continue.

For long term analysis, AUDUSD broke above 0.9496 previous high and is back to long term up trend. Further rise to 1.0500 level is expected.

audusd daily chart