Short Term Analysis - September 26, 2007

AUDUSD is in up trend, and further rise towards 0.8870 previous high is expected. Near term support is at the up trend line from 0.7675 to 0.8275, a break below the trend line support will signal consolidation to the up trend. For long term analysis, AUDUSD topped at 0.8870 on weekly chart and bounded sharply from 0.7675. Further rise to test the long term key resistance at 0.8870 is still possible, a break above this level will signal the resumption of the long term up trend, and further rise towards 1.0000 area is expected to follow.