AUDUSD pulled back from 0.9849 and is forming a sideways consolidation. Near term support is at the up trend line from 0.9327 to 0.9475. As long as the trend line support holds, we’d expect up trend to resume, and a break of 0.9849 will signal further rally to towards 1.0000 level.
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 expected.
