The pair broke its key support at the 0.9926 level, its Aug 09'2011 low following a sharp sell off on Thursday. Although presently seen hesitating off its Thursday low (0.9691), AUDUSD remains biased to the downside in the short term. This suggests its present price hesitation should give way for a push lower towards the 0.9691 level, its Sept 22'2011 low. Further down, support stands at the 0.9536 level, its Nov'2010 low followed by the 0.9450 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, recovery if triggered will turn risk to the 0.9926 level, its Aug 09'2011 low where a reversal of roles as resistance is expected to occur and turn the pair lower. Further out, the 1.0110 level, its Aug 11'2011 low comes in as the next upside ahead of the 1.0339 level, its Sept 16'2011 high. All in all, the pair remains biased to the downside in the short term.
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