AUDUSD has formed a cycle bottom at 0.9622 on daily chart. However, the rise is treated as consolidation of downtrend from 1.0764, another fall is still possible after consolidation, and a breakdown below 0.9622 could signal resumption of downtrend.
For long term analysis, AUDUSD is in downtrend from 1.1080. Deeper decline towards 0.9000 could be seen.
