AUDUSD Analysis. Jan 13, 2008

AUDUSD broke above the previous high resistance at 0.8846 and reached as high as 0.8975. Further rise towards 0.9300 area is expected to follow next week. Near term support is at 0.8810, followed by 0.8682.

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, and a break above 0.9398 level will signal the resumption of the long term up trend.

audusd daily chart