AUDUSD may be forming a cycle bottom at 1.0385 on 4-hour chart. However, the rise would possibly be correction of the downtrend from 1.0496, as long as 1.0496 key resistance holds, one more fall to 1.0200 – 1.0300 area to complete the downward movement is still possible. On the upside, a break above 1.0496 will suggest that the longer term uptrend from 1.0115 has resumed, then further rise to 1.0700 area could be seen.
