AUDUSD stays in a trading range between 0.8916 and 0.9404. Moving sideways without trend in the range is still possible next week. As long as 0.8916 support holds, the price action in the trading range is treated as consolidation of uptrend from 0.7703, and another rise towards 0.9500 is expected after consolidation. However, below 0.8916 will trigger a sharp drop towards 0.8500 area.
For long term analysis, AUDUSD is in long term bullish movement. Further rise towards 0.9500 area to reach next cycle top on weekly chart is still possible in next several weeks.
