AUDUSD might be forming a cycle bottom at 1.0053 on daily chart. Further rise would likely be seen in a couple of weeks, and target would be at 1.5800 area. Support is 1.0053, only break below this level could trigger another fall to 0.9700 zone.
For long term analysis, AUDUSD had formed a cycle bottom at 0.9390 on weekly chart. Range trading between 0.9390 and 1.1080 is expected over the next several weeks.
