AUDUSD: Sells Off, Eyes Further Downside
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AUDUSD: With a sell off reversing its two-day rally, the risk is for that continue in the days ahead. Further down, support comes in at the 1.0219 level where a violation will turn attention to the 1.0150 level and then the 1.0100 level. Further down, support comes in at the 1.0050 level and then the 1.0000 level. Conversely, AUDUSD will have to return above the 1.0357/84 levels to halt its medium term downside bias. This if seen could drive it further higher towards the 1.0586 level. The next upside objective resides at the 1.0600 level where a violation will aim at the 1.0650 level. All in all, the pair remains biased to the downside medium term.