AUDUSD formed a cycle bottom at 0.6248 level on daily chart. Further rise is expected to 0.7150 zone in a couple of weeks. Near term support is located at 0.6248, only break below this level will indicate that a cycle top has been formed at 0.6849 level, and deeper decline could be seen to test 0.6008 previous low support.
For long term analysis, AUDUSD has formed a cycle top at 0.7267 level on weekly chart. Consolidation in a range between 0.6008 and 0.7500 is expected in next several weeks.
