AUDUSD: Weakens, Eyes The 0.9700 level and Below.
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AUDUSD: Having continued to weaken, the risk is for more decline to occur towards the 0.9700 level. Further downside, the 0.9600 level comes in as the next downside followed by the 0.9500 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, AUDUSD will have to return above the 1.0114 level to halt its present downside and then turn attention to the 1.0200 level. Further out, resistance comes in at the 1.0300 followed by the 1.0357/84 levels. All in all, the pair remains biased to the downside medium term.