AUDUSD Analysis, Daily Forex Analysis, July 30th 2010

30 July 2010 @ 12:11 am EDT

AUDUSD formed a trading range between 0.8905 and 0.9068. As long as 0.8905 support holds, one more rise to 0.9150 is still possible later today. Support is at 0.8970, below this level will suggest lengthier consolidation of uptrend is underway, then pullback to the lower border of the price channel to reach next cycle bottom could be seen.

For more forex information, go to www.forexcycle.com

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