AUDUSD: The pair turned lower ahead of its overhead resistance at the 0.7381 level during Thursday trading session. This suggests on continued trading below the mentioned support, further bear threats cannot be ruled out. On the downside, support comes in at the 0.7250 level where a breach will aim at the 0.7200 level. Below that level will set the stage for a run at the 0.7150 level with a cut through here targeting further downside pressure towards the 0.7100 level.
Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 0.7300 level where a break if seen threatening further u[side towards the 0.7381 level. A violation will set the stage for a retarget of the 0.7450 level. Further out, resistance resides at the 0.7500 level. On the whole, AUDUSD continues to retain its short term upside bias.
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