AUDUSD broke above 0.9221 resistance. Further rise is still possible next week and next target is at 0.9404 (2009 high). Near term support is at 0.9090, as long as this level holds, uptrend from 0.8771 could be expected to continue. However, below 0.9090 will suggest that a cycle top is being formed on daily chart, then pullback towards the lower border of the price channel could be seen.
For long term analysis, AUDUSD has formed a cycle bottom at 0.8066 level on weekly chart. Rise towards 0.9849 (2008 high) is expected in next several weeks.
