AUDUSD breaks above 0.7322 resistance and the rise from 0.6284 extends to as high as 0.7383 level. Further rally is still possible next week and the next target would be at 0.7500-0.7600 area. Key support is now located at 0.6952, as long as this level holds, we’d expect the uptrend from 0.6284 to continue.
For long term analysis, AUDUSD is in consolidation of the downtrend from 0.9849 (2008 high). Moving sideways in a range between 0.6000 and 0.8000 is expected.
