AUDUSD breaks above the resistance of the upper border of falling price channel, suggesting that a cycle bottom has been formed at 0.7703 level on daily chart, and the uptrend from 0.6248 has resumed. Further rally is expected to test 0.8263 previous high resistance, above this level will take price to 0.8500 zone.
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.
