After breaking below 0.8734 support, AUDUSD bounced from 0.8577, taking price back to a trading range between 0.8577 and 0.9404. Further rally to 0.9200-0.9300 would more likely be seen after a minor consolidation. Key support is at 0.8577, only fall below this level could trigger another fall to 0.8000 area.
For long term analysis, AUDUSD might be forming a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.
