Being supported by the lower line of the price channel on 4-hour chart, AUDUSD rebounds from 1.0100, suggesting that a cycle bottom has been formed. Now the bounce would possibly be resumption of the longer term uptrend from 0.9581 (Jun 1 low), further rise to test 1.0328 previous high resistance could be expected, a break above this level will target 1.0500 zone. Key support is now at 1.0100, only break below this level will indicate that the uptrend from 0.9581 is complete.
