While the pair holds above the 1.0076 level, its Jan 19'2011 high, our bias is for a return to its 2010 high at 1.0253. An eventual loss of that level will resume AUDUSD's broader long-term uptrend towards the 1.0300 level and then the 1.0400 levels. Its daily stochastics is bullish and pointing higher supporting this view. On the downside, support lies at the 1.0076 level with a violation of that level turning risk to the 0.9866 level ahead of the 0.9831 level, its Jan 20'2011 low. Below there will extend declines towards the 0.9804 level, its Jan 11'2011 low where a halt is expected. However, if that gives in, AUDUSD should weaken further towards its Dec 08'2010 low at 0.9755.
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