No changed in our view, AUDUSD remains in uptrend from 0.6248. Further rise to 0.8500 zone to reach the next cycle top on daily chart is possible next week. Key support is now at 0.8124, a break down below this level will confirm the cycle top, then deeper decline could be seen to 0.7800-0.7900 area.
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is still possible.
