AUDUSD Analysis, Jan 5, 2008

AUDUSD is forming a cycle top at 0.8846 level. Further fall towards 1.8300 area may be expected, and a break below 0.8551 previous low will confirm such case. Near term resistance is at 0.8846, only break of this level will indicate lengthier correction to the down trend.

For long term analysis, AUDUSD is in consolidation to the long term up trend, Rise towards 1.0000 to reach the next cycle top on weekly chart is still possible after consolidation.

audusd daily chart