AUDUSD breaks above 0.7709 previous high, suggesting that the pair remains in uptrend from 0.6284. Further rally is possible to 0.8000 zone after consolidation. Near term support is now at 0.7449 followed by the rising trend line on daily chart, as long as the trend line support holds, we’d expect the uptrend to continue.
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8000-0.8300 area is expected.
