AUDUSD is testing the key resistance at 0.7014, a break above this level will indicate that the downtrend from 0.9849 (July 15 high) has completed, and then the following up trend will bring price back to 0.7800 zone. Initial support is at 0.6008 level only fall below this level will signal deeper decline towards 0.5500 zone.
For long term analysis, AUDUSD might be forming a cycle bottom at 0.6008 level on weekly chart. Key resistance is now located at 0.7014, a break above this level will confirm the cycle bottom.
