AUDUSD’s bounce from 0.8577 extended to 0.9193 level. Support remains at the rising trend line from 0.8577 to 0.8801, as long as the trend line support holds, further rally is expected and next target would be at 0.9300-0.9350 area. However, below the trend line support could indicate that the bounce from 0.8577 has completed, then the follow pullback could take price back to 0.8800-0.8900 area.
For long term analysis, AUDUSD might be forming a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.
