AUDUSD: Biased To The Upside On Corrective Recovery
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AUDUSD: AUDUSD took off strongly on Tuesday following its corrective strength. On the upside, resistance lies at the 0.7100 level. A cut through here will turn attention to the 0.7150 level and then the 0.7200 level where a violation will set the stage for a retarget of the 0.7250 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support comes in at the 0.7000 level. Below that level will set the stage for a run at the 0.6950 level with a cut through here targeting further downside towards the 0.6900 level. On the whole, AUDUSD faces further corrective recovery threats