Being supported by 0.9275, AUDUSD rebounded from 0.9291. The pair might be forming a symmetrical triangle pattern in a range trading between 0.9275 and 0.9541 (Apr 23 high). Further rise towards 0.9800 area is expected after the symmetrical triangle pattern is broken above. Key support is now located at 0.9275, only break of this level will signal resumption of the down trend.
http://blog.forexcycle.com/765/daily...s-may-16-2008/