AUDUSD’s upward move from 0.9537 extended to as high as 1.0064 level. Further rise towards 1.0182 previous high is still possible next week. Support is at 0.9900, as long as this level holds, uptrend could be expected to continue. However, a breakdown below 0.9900 could indicate that the rise from 0.9537 has completed, then another fall to test 0.9537 key support could be seen.
For long term analysis, AUDUSD may be forming a cycle bottom at 0.9537 level on weekly chart. Sideways movement in a range between 0.9537 and 1.0182 is expected in a couple of weeks.
