AUDUSD Analysis – March 10, 2012

AUDUSD breaks below 1.0596 key support, suggesting that the upward movement from 0.9663 has completed at 1.0855 already. Further decline would likely be seen in a couple of weeks, and next target would be at 1.0200.

For long term analysis, AUDUSD is forming a cycle top at 1.0855 on weekly chart. Range trading between 0.9390 and 1.1080 is expected over the next several months.

audusd daily chart
audusd weekly chart