[m.youssif]

AUD/USD rises further to new record high of 1.3135 today and remains firm. Intraday bias remains on the upside and current rally should extend further to upper channel resistance at 1.0386 next. On the downside below 1.0185 minor support will turn bias neutral and bring retreat. But break of 0.9704 support is needed to signal reversal. Otherwise, outlook will remain bullish even in case of deep retreat.

In the bigger picture, up trend from 2008 low of 0.6008 is still in progress and would extended further. Nevertheless, considering bearish divergence condition remains in daily and weekly MACD, reversal should be imminent. We'd continue to look for topping signal and a break of 0.9704 support will indicate that a medium term top is already in place and would likely bring deep medium term pull back into 0.8066/9404 support zone. However, re-acceleration in the current rise will dampen this view and would possibly bring even stronger rise though 1.1 psychological level.

[m.youssif]

AUD/USD rises further to new record high of 1.3135 today and remains firm. Intraday bias remains on the upside and current rally should extend further to upper channel resistance at 1.0386 next. On the downside below 1.0185 minor support will turn bias neutral and bring retreat. But break of 0.9704 support is needed to signal reversal. Otherwise, outlook will remain bullish even in case of deep retreat.

In the bigger picture, up trend from 2008 low of 0.6008 is still in progress and would extended further. Nevertheless, considering bearish divergence condition remains in daily and weekly MACD, reversal should be imminent. We'd continue to look for topping signal and a break of 0.9704 support will indicate that a medium term top is already in place and would likely bring deep medium term pull back into 0.8066/9404 support zone. However, re-acceleration in the current rise will dampen this view and would possibly bring even stronger rise though 1.1 psychological level.