[m.youssif]

Intraday bias in AUD/USD remains on the upside for the moment and current rally should now extend further to 1.1 psychological level first. On the downside, however, break of 1.0773 support will indicate short term topping, possibly with bearish divergence in 4 hours MACD. In such case, deeper retreat would be seen back to 1.0388/0581 support zone.

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. Break will target 100% projection of 0.8315 to 1.0181 from 0.9704 at 1.1570. 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]

Intraday bias in AUD/USD remains on the upside for the moment and current rally should now extend further to 1.1 psychological level first. On the downside, however, break of 1.0773 support will indicate short term topping, possibly with bearish divergence in 4 hours MACD. In such case, deeper retreat would be seen back to 1.0388/0581 support zone.

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. Break will target 100% projection of 0.8315 to 1.0181 from 0.9704 at 1.1570. 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.