AUDUSD drops below 0.7789 support and is now in consolidation of uptrend from 0.6248. Deeper decline is possible next week and target would be at 0.7500 zone. Key resistance is at 0.8263, only rise above this level will indicate that the uptrend has resumed and further rally could be seen to 0.8500 level.
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 still possible.
