AUD/USD: With AUDUSD maintaining its bearishness, further downside pressure cannot be ruled out. Support lies at the 0.9400 level with a violation here turning attention to the 0.9317 level where a reversal of roles as support is likely.
However, if breached the pair will target the 0.9200 level. Its daily RSI is bearish and pointing lower supporting this view.
On the upside, resistance resides at the 0.9528 level where a breach will aim at the 0.9600 level followed by the 0.9700 level and then the 0.9756 level. A cut through here could resume its broader upside towards the 0.9800 level. All in all, the pair remains biased to the upside.
Guest post by FX Tech Strategy
