AUDUSD stays in a rising price channel on daily chart and remains in uptrend from 0.8577. Further rise towards 0.9404 previous high is still possible after consolidation, and a break above this level will trigger another rise towards 0.9800 area. Support is at the lower border of the price channel, and key support is at 0.9001, only fall below this level could bring price back to 0.8400 zone.
For long term analysis, AUDUSD formed a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.
