AUDUSD: A fourth day of upside gain is now underway as AUDUSD looks to retake the 0.9080/5 levels. This if seen will pave the way for a push higher towards the 0.9150 level where a break will set the stage for a run at the 0.9200 level and subsequently the 0.9250 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 0.8972 level, its Mar 06 2014 low where a break will aim at the 0.8900 level. Below here will aim at the 0.8890 level where a violation will aim at the 0.8850 level. A turn below here will set up the pair for move further lower for towards the 0.8800 level. All in all, the pair continues to face further upside risks.
Article by www.fxtechstrategy.com