AUDUSD: Looks To Return To Recapture Key Support On Price Failure
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AUDUSD: With corrective recovery ending at the 0.9344 level and the pair now weakening, there is risk of an eventual return to the 0.9147 level. Below here will set the stage for more downside towards the 0.9100 level followed by its big psycho level at the 0.9000 level. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, AUDUSD will have to return above the 0.9344 level to resume its halted recovery. Further out, resistance resides at the 0.9400 level and then the 0.9450 level. All in all, the pair remains biased to the downside.