With a build up on its rally started from the 1.0141 level in force, AUDUSD now looks to return above its key resistance levels. In such a case, its resistance zone at the 1.0378/84 levels will come in as its immediate upside target with a clearance of that region setting the stage for further strength towards the 1.0444 level, its Nov 03'2011 high. A loss of there will turn focus to the 1.0569 level, its Oct 31 high. Its daily RSI is bullish and pointing higher suggesting further upside gains. On the downside, the risk to this analysis will be a return to the 1.0141 level, its Jan 09'2012 low where we may see a breather. However, if this level is breached, it will pave the way for a run at the 1.0042 level, its Dec 29'2011 low. Further down, support lies at the 0.9861 level and the 0.9796 level, its Nov 11'2011 low. All in all, the pair faces the risk of returning above the 1.0378/84 levels and beyond.
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