AUD/USD Looks To Recover Further Higher
AUD/USD - With the pair rejecting lower level prices on
Thursday, further bullishness is likely.
On the downside, support
resides at the 0.7200 level where a breach will aim at the 0.7150 level.
Below that level will set the stage for a run at the 0.7100 level with a
cut through here targeting further downside pressure towards the 0.7050
On the upside, resistance lies at the 0.7300 level. A cut through here will turn attention to the 0.7350 level and then the 0.7400 level where a violation will set the stage for a retarget of the 0.7450 level. Its daily RSI has turned higher suggesting more strength. On the whole, AUDUSD remains biased to the upside on price failure.