[m.youssif]

AUD/USD's rally extends further to new record high of 1.0690 so far today and intraday bias remains on the upside for 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next. On the downside, below 1.0596 minor support will turn bias neutral and bring consolidations. But break of 1.0388 support is needed to confirm short term topping. Otherwise, outlook will remain bullish.

In the bigger picture, up trend from 2008 low of 0.6008 is still in progress and would extend further. Daily MACD's strong rise suggests that the up trend is regaining momentum again. Current rally could target 100% projection of 0.4773 to 0.9849 from 0.6008 at 1.1084. On the downside, break of 0.9704 support in needed to signal medium term reversal. Otherwise, outlook will remain bullish.

[m.youssif]

AUD/USD's rally extends further to new record high of 1.0690 so far today and intraday bias remains on the upside for 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next. On the downside, below 1.0596 minor support will turn bias neutral and bring consolidations. But break of 1.0388 support is needed to confirm short term topping. Otherwise, outlook will remain bullish.

In the bigger picture, up trend from 2008 low of 0.6008 is still in progress and would extend further. Daily MACD's strong rise suggests that the up trend is regaining momentum again. Current rally could target 100% projection of 0.4773 to 0.9849 from 0.6008 at 1.1084. On the downside, break of 0.9704 support in needed to signal medium term reversal. Otherwise, outlook will remain bullish.