AUDUSD broke below the up trend line from 0.8953 to 0.9291. Deeper decline to test 0.9275 level is still possible next week. As long as 1.9275 support holds, we’d expect up trend to resume and rise above 0.9653 resistance to reach the next cycle top on daily chart is still possible.
For long term analysis, AUDUSD is in long term up trend. As long as 0.8953 support holds, we’d expect up trend to continue and further rise to 1.0500 level is in favor.
