Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0481, suggesting that a cycle bottom has been formed on 4-hour chart. Further rise towards 1.0764 previous high is expected in a couple of days, a break above this level will signal resumption of the longer term uptrend from 0.9927. Key support is now at 1.0481, only break below this level could indicate that the uptrend from 0.9927 had completed at 1.0764 already.
