AUDUSD breaks below the support of the upward trend line on daily chart, suggesting that the uptrend from 1.0149 had completed at 1.0597 already. Further decline would likely be seen over the next several days, and next target would be at 1.0200 area. Resistance is at 1.0490, only break above this level could trigger another rise to 1.0700 zone.
For long term analysis, AUDUSD is forming a sideways consolidation in a range between 0.9390 (Oct 4, 2011 low) and 1.1080 (July 27, 2011 high). Another rise towards 1.1080 previous high would likely be seen over the next several months.
