AUDUSD: With AUDUSD following through higher on the back of its Friday gains, the challenge is for it to break and hold above the 0.9132/5 levels.
That zone has held on many occasions and it will be difficult for the pair to break but if that occurs, further strength should build up towards the 0.9166 level. Further out, resistance comes in at the 0.9200 level, its psycho level.
A cut through here if seen will aim at the 0.9236 level its 200 ema and subsequently the 0.9300 level. Its daily RSI is bullish and pointing higher supporting this view. On pullbacks, support lies at the 0.9048 level followed by the 0.8994 level, its Mar 20 2014 low.
A breach will expose the 0.8950 level and then the 0.8906 level. Further down, support comes in at the 0.8850 level. All in all, the pair remains biased to the upside on bull risks but vulnerable on correction.
Guest post by FX Tech Strategy
