AUDUSD Analysis – Jan 10, 2009

AUDUSD breaks above 0.7140 resistance and reaches 0.7267 level only. Pullback to test 0.6755 support is possible next week. This level would more likely be held, and one more rise towards 0.7500 could be expected. Only fall below 0.6755 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