AUDUSD Analysis – Jan 6, 2009

AUDUSD breaks above 0.7140 resistance, suggesting that the uptrend from 0.6008 has resumed. Further rally could be seen to 0.7500 zone in next several days. Near term support is at 0.6755, only fall below this level will take price back to 0.6300-50 area.

For long term analysis, AUDUSD formed a cycle bottom at 0.6008 level on weekly chart. Consolidation in a range between 0.6008 and 0.7500 is possible in next several weeks.

audusd daily chart