Further corrective weakness continues to shape up as a follow-through lower on its Tuesday losses is now underway. This suggests a push lower towards its big psycho level located at the 0.9000 level with that level envisaged to provide a strong support and turn the pair higher again. Nevertheless, if that level fails, AUDUSD will face further declines towards the 0.8858/69 level and then another support located at the 0.8736 level. To reverse its current downside weakness, the pair will have to invalidate the 0.9219 level to create scope for further strength towards its May 04'10 low at 0.9265. Other supports are located at its April 21'10 high at 0.9337 with a breach aiming at further up move towards the 0.9404 level, its Nov'16'10 high.
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