.AUD/USD: With price extension seen on Tuesday following a reversal of its one-day gains, further downside is expected. This development leaves the pair targeting the 0.8850 level. A break will target further downside towards the 0.8800 level.
Further down, support stands at the 0.8750 level. On the upside, resistance resides at the 0.9000 level with a breach targeting the 0.9100 level followed by the 0.9166 level.
A cut through here will aim at the 0.9200 level. Further out, resistance comes in at the 0.9250 level. All in all, the pair remains biased to the downside.
Guest post by FX Tech Strategy
