[m.youssif]

AUD/USD's rally resumed after brief consolidations and reaches as high as 1.0850 so far today, inch below mentioned target of 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next. Near term outlook will remain bullish as long as 1.0675 support holds and sustained trading above 1.0857 will target 1.1 psychological level next. On the downside, though, below 1.0675 will indicate that a short term top is formed after hitting a projection target and should bring pull back to 1.0388/0581 support zone first.

In the bigger picture, rise from 0.8066 is part of the up trend from 2008 low of 0.6008 and is still in healthy status. AUD/USD is staying comfortably inside medium term rising channel with daily MACD staying above signal line. Current rise should be target 1.1 psychological level next. On the downside, break of 0.9704 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

[m.youssif]

AUD/USD's rally resumed after brief consolidations and reaches as high as 1.0850 so far today, inch below mentioned target of 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next. Near term outlook will remain bullish as long as 1.0675 support holds and sustained trading above 1.0857 will target 1.1 psychological level next. On the downside, though, below 1.0675 will indicate that a short term top is formed after hitting a projection target and should bring pull back to 1.0388/0581 support zone first.

In the bigger picture, rise from 0.8066 is part of the up trend from 2008 low of 0.6008 and is still in healthy status. AUD/USD is staying comfortably inside medium term rising channel with daily MACD staying above signal line. Current rise should be target 1.1 psychological level next. On the downside, break of 0.9704 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.