[m.youssif]

AUD/USD loses some upside momentum as seen in mild bearish divergence condition in 4 hours MACD. But with 1.0203 minor support intact, stronger rise is still in favor towards upper channel resistance at 1.0396. On the downside, below 1.0203 support will argue that a short term top is formed and bring pull back.

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 weekly MACD, reversal could 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 loses some upside momentum as seen in mild bearish divergence condition in 4 hours MACD. But with 1.0203 minor support intact, stronger rise is still in favor towards upper channel resistance at 1.0396. On the downside, below 1.0203 support will argue that a short term top is formed and bring pull back.

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 weekly MACD, reversal could 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.