The up trend line support is broken below, AUDUSD is forming a cycle top at 0.9541 on daily chart. Further fall to test 0.9205 key support is still possible in a couple of days, a break below this level will confirm the cycle top, and then, deeper decline to 0.9000 area could be seen. Key resistance is at 0.9541, only rise above this level will signal the resumption of the long term up trend.
For long term analysis, AUDUSD broke above 0.9496 previous high and is back to long term up trend. Further rise to 1.0000 level is expected after consolidation.
