AUDUSD’s upward movement from 0.9861 extends to as high as 1.0793. Further rise is still possible next week, and next target would be at 1.0900 area. Support is at 1.0600, only a breakdown below this level could signal completion of the uptrend.
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 months.
