AUDUSD bounced strongly from 0.9537, suggesting that a cycle bottom had been formed on daily chart. Now the bounce from 0.9537 could possibly be resumption of uptrend from 0.8066. Further rise towards 1.0182 previous high could be seen next week, a break above this level will confirm the resumption of uptrend, then another rise to 1.0500 area could be seen.
For long term analysis, AUDUSD may be forming a cycle bottom at 0.9537 level on weekly chart, key resistance is at 1.0182, a break above this level is needed to confirm the cycle bottom.
