AUDUSD: With continued upside offensive seeing the pair rallying on Wednesday, the risk is for more strength to occur.
Resistance resides at the 0.9550 level with a cut through here opening the door for a run at the 0.9600 level. Further out, resistance resides at the 0.9650 level and then the 0.9700 level.
Its daily RSI is bullish and pointing higher supporting this view. Support stands at the 0.9400 level followed by the 0.9317 level where a reversal of roles as support is likely.
However, a breach of here will target the 0.9200 level with a break of here turning focus to the 0.9100 level followed by the 0.9000 level. Further down, support stands at the 0.8900 level.
All in all, the pair remains biased to the upside short term.
Guest post by FX Tech Strategy.
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