The AUDUSD is nearing the end of its 7 year bull run. However, tops in currency pairs tend to form following a blow-off top. Expect a test of 1.00 prior to formation of a long-standing top.
The entire advance from the 2001 low is nearing completion. The rally is actually a 3 wave (corrective A-B-C) advance. Wave C is a diagonal. A push through .9653 satisfies minimum expectations but Fibo extension levels are near 1.00 and 1.02.
The AUDUSD has held above a trendline from August 2007. As mentioned , the large C wave is unfolding as a diagonal. Diagonals consist of 5 waves, but each subwave consists of 3 waves. Wave v of C (from .7673) is underway now. Within wave v of C, c = a just above 1.02.
Look for support next week just below .95 (today’s low of .9489 should hold). The bullish bias is strong as long as price remains above .9402 near term.