AUDUSD’s upward movement extended to as high as 0.9613 level. Now the pair is facing the upper boundary of the price channel on 4-hour chart, consolidation of uptrend would more likely be seen. Support is at 0.9460, a break below this level will indicate that the rise from 0.8771 is complete, then pullback toward the lower boundary of the channel could be seen.
For long term analysis, AUDUSD is moving towards 0.9849 (2008 high) to reach next cycle top on weekly chart and the next cycle top is nearing, pullback would more likely be seen before breaking above this level.
