Being contained by 1.0255 previous high resistance, AUDUSD formed a sideways consolidation between 0.9940 and 1.0200. Another rise to re-test 1.0255 resistance is expected next week. A break above this level will indicate that the long term uptrend from 0.8066 has resumed, then next target would be at 1.0500 area. Key support is located at 0.9943, only break below this level could trigger another fall towards 0.9537.
For long term analysis, AUDUSD had formed a cycle bottom at 0.9537 level on weekly chart. Further rise to 1.1000 area is expected in next several weeks.
