AUDUSD Analysis – March 27, 2010

AUDUSD stays in a rising price channel on daily chart and remains in uptrend from 0.8577. As long as the channel support holds, further rally is possible and next target would be at 0.9300 area. However, a clear break below the channel support could trigger another fall towards 0.8801 support or even lower.

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

audusd daily chart