AUDUSD pulls back sharply from 0.8519 and formed a cycle top on 4-hour chart. Further fall is still possible to test 0.7802 previous low support. As long as this level holds, the fall from 0.8519 is treated as correction to up trend, and rise towards 0.8800 is still possible. However, a break down below 0.7802 will signal resumption of down trend, and deeper decline would be seen to 0.7500 zone.
For long term analysis, AUDUSD formed a cycle bottom at 0.7802 on weekly chart. Consolidation in a range between 0.7802 and 0.9849 could be seen in next few months. However, breaking below 0.7802 will signal deeper decline to 0.7500 level.