AUDUSD stays within a upward price channel on daily chart, and remains in uptrend from 1.0149, and the rise extends to as high as 1.0488. Further rise is still possible next week, and next target would be at 1.0550 area. Support is located at the lower line of the price channel, only a clear break below the channel support could signal completion of the uptrend.
For long term analysis, AUDUSD has formed a cycle top at 1.0624 on weekly chart. Further decline to 0.9800 area could be expected over the next several weeks.
