AUDUSD continued its upward move from 0.9704, and the rise extended to as high as 1.0774. Further rise is still possible in a couple of weeks, and next target would be at 1.1000 zone. Support is at the rising trend line on daily chart, only a clear break below the trend line support could indicate that the rise from 0.9704 is complete.
For long term analysis, AUDUSD had formed a cycle bottom at 0.9537 level on weekly chart. Further rise to 1.1500 area is expected in next several weeks.
