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.
For more forex information, go to www.fxtechstrategy.com