AUDUSD is testing the support of the rising trend line on daily chart, a clear break below the trend line support will signal further fall to 0.7650-0.7700 area. However, the price action from 0.8263 is more likely consolidation of uptrend from 0.6248, one more rise towards 0.8500 is still possible after consolidation.
For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is expected.
