[m.youssif]

AUD/USD's consolidation from 1.1010 is still in progress and intraday bias remains neutral for the moment. As discussed before, break of 1.0657 support is needed to signal short term topping. Otherwise, outlook will remain bullish and we'd expect recent rally to resume sooner rather than later. Above 1.1010 will target upper channel resistance at 1.1183 next. Though, break of 1.0675 will bring deeper pull back towards 1.0388 support instead.

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 100 projection of 0.6008 to 0.9404 from 0.8066 at 1.1462 next. On the downside, break of 1.0254 resistance turned support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

[m.youssif]

AUD/USD's consolidation from 1.1010 is still in progress and intraday bias remains neutral for the moment. As discussed before, break of 1.0657 support is needed to signal short term topping. Otherwise, outlook will remain bullish and we'd expect recent rally to resume sooner rather than later. Above 1.1010 will target upper channel resistance at 1.1183 next. Though, break of 1.0675 will bring deeper pull back towards 1.0388 support instead.

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 100 projection of 0.6008 to 0.9404 from 0.8066 at 1.1462 next. On the downside, break of 1.0254 resistance turned support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.