The pair has capped its bullish offensive at 1.1080 and turned lower on Thursday suggesting corrective pullback has been triggered. In such a case, this development could put AUDUSD under pressure in the days ahead with the possibility of weakening further towards the 1.0901 level, its July 26'2011 low. On a cut through that level, further declines will target the 1.0800 level, its July 13'2011 high. As long as that level holds as supports the pair's long term bullish build up remains intact. However, the risk to our analysis will be a break and hold below the 1.0525 level, its July 12'2011 low followed by the 1.0389 level. Further down, support lies at its April 05'2011 low at 1.0287 and next its .618 Fib Ret.(0.9702-1.1009 rally) at 1.0200. All in all, AUDUSD looks to resume its long term uptrend on ending its corrective attempts.

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