AUDUSD- As indicated in our Tuesday analysis, AUDUSD's recovery off the 0.8584 level has yielded the resumption of its medium term uptrend following its break through its YTD high at 0.8787 today. On a hold onto those gains above the said level, additional higher prices are expected towards its Aug 10'08 high at 0.8950 with a clean penetration of there allowing for further upside targeting the 0.9000 level, its big psycho level. This level on initial test should pose a threat to the pair. AUDUSD is supported by its bullish studies which are pointing higher. On the downside, immediate support lies at the 0.8810 level, its Aug 17'08 high followed by the 0.8787 level, its eroded YTD high with an acceleration through there targeting the 0.8584 level, marling its Sept 28'09 low. On the whole, with the resumption of the pair's medium term uptrend seen, further upside gains are expected in the days ahead

Daily Chart: AUDUSD

width=400