AUDUSD has formed a cycle bottom at 0.9927, and the fall from 1.1080 has completed. Further rise is expected after a minor consolidation, and next target would be at 1.0600-1.0700 area. Key support is at 0.9927, only breakdown below this level could signal resumption of downtrend.
For long term analysis, AUDUSD is forming a cycle bottom at 0.9927 on weekly chart. Range trading between 0.9927 and 1.1080 would likely be seen in next several weeks.
