[m.youssif]

AUD/USD rose to new record high at 1.0773 last week before losing some upside momentum and retreated. A temporary top should be in place and intraday bias is neutral for some consolidations. Deeper retreat might be seen to 4 hours 55 EMA (now at 1.0603) but downside should be contained above 1.0388 support and bring rally resumption. Above 1.0773 will target 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next.

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 0.8704 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

In the longer term picture, long term up trend from 0.4773 (01 low) is still in progress and would possibly target 100% projection of 0.4773 to 0.9849 from 0.6008 at 1.1084.

[m.youssif]

AUD/USD rose to new record high at 1.0773 last week before losing some upside momentum and retreated. A temporary top should be in place and intraday bias is neutral for some consolidations. Deeper retreat might be seen to 4 hours 55 EMA (now at 1.0603) but downside should be contained above 1.0388 support and bring rally resumption. Above 1.0773 will target 61.8% projection of 0.8315 to 1.0181 from 0.9704 at 1.0857 next.

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 0.8704 support is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bullish.

In the longer term picture, long term up trend from 0.4773 (01 low) is still in progress and would possibly target 100% projection of 0.4773 to 0.9849 from 0.6008 at 1.1084.