Daily Technical Strategist: AUDUSD

[FXTechstrategy Team 10]

AUDUSD: Further bearishness is still envisaged as AUDUSD extended its declines on Thursday. The pair is now seen testing the 1.0289 level, its daily 200 ema where a breach will push it further lower towards its July 25’2012 low at 1.0177 and then the 1.0100 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to return above the 1.0409 level and the 1.0611 level to annul its present bearishness. This if it occurs could open up further upside risk towards the 1.0650 level. Further out, resistance resides at the 1.0700 level. All in all, the pair continues to face its corrective downside tone.

 

[FXTechstrategy Team 10]

AUDUSD: Weak And Vulnerable To The Downside

 

AUDUSD: Having failed to break and hold above the 1.0611 level and tumbled lower, price extension cannot be ruled out. This suggests that AUDUSD could face further bear threats towards the 1.0419/1.0399 levels. Below here if seen could force further declines towards the 1.0320 level. Further down, support comes in at the 1.0200 level followed by the 1.0165 level. Its daily RSI is bearish and pointing lower supporting this view. In order for the pair to annul its present bear threats, it will have to break and hold above the 1.0611/23 level. This will push it further higher towards the 1.0700 level and possibly the 1.0853 level. All in all, the pair continues to face its corrective downside risk.

 

[FXTechstrategy Team 10]

AUDUSD: Strengthens, Looks For More Upside.

 

AUDUSD: With the pair resuming its short term upside on Tuesday, further upside is likely to target the 1.0475 level with a breach creating scope for a run at the 1.0520 level. The ultimate target lies at the 1.0611/23 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, if its present bullish tone fails, it could target the 1.0304 level with a violation of there targeting the 1.0234 level. A breach will push it lower towards the 1.0198 level. Further down, support comes in at the 1.0150 level. All in all, the pair continues to face upside risks.

 

[FXTechstrategy Team 10]

AUDUSD: While AUDUSD trades within its established rising channel, our bias remains higher. This leaves the risk of a recapture of the 1.0478 level on the cards. A breach will create scope for a run at the 1.0520 level. The ultimate target lies at the 1.0611/23 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, if its present bullish tone fails, it could target the 1.0304 level with a violation of there targeting the 1.0234 level. A breach will push it lower towards the 1.0198 level. Further down, support comes in at the 1.0150 level. All in all, the pair continues to face upside risks.

 

[FXTechstrategy Team 10]

AUDUSD: Having halted its corrective declines and bullish, there is risk of further upside offensive towards the 1.0456 level. A cut through here will call for more upside towards the 1.0520 level. The ultimate target lies at the 1.0611/23 level. Its daily RSI bullish and pointing higher supporting this view. On the downside, support stands at 1.0350 level where a breach will aim at the 1.0300 level. Further down, support comes in at the 1.0234 level. A breach will push it lower towards the 1.0198 level. All in all, the pair continues to retain its upside risks short term