AUDUSD: With a fifth day of upside correction underway, further strength is now envisaged. This leaves AUDUSD targeting the 0.9209 level where a break will aim at the 0.9250 level and then the 0.9317 level.
Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to this analysis will be a return to the 0.8847 level, a tough call at its present price levels.
Below here will resume its broader weakness towards the 0.8800 level. Further down, support lies at the 0.8750 level and then the 0.8700 level. All in all, the pair remains biased to the downside long term.
Guest post by FX Tech Strategy
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