AUDUSD formed a cycle bottom at 0.9537 level on daily chart. The bounce from 0.9537 is likely resumption of uptrend from 0.8066, further rise towards 1.0182 key resistance is expected, a break above this level will target 1.0500 area. Key support is at 0.9537, only break below this level could indicate that the uptrend from 0.8066 is complete.
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.
