AUDUSD: Although AUDUSD's broader medium term bias remains higher, it is currently seen facing bear pressure and eyes a recapture of the 0.9083 level, its Mar 22'10 low. If further corrective weakness occurs, the 0.9070/53 levels, its Feb 23'10 high/Mar 09'10 low will come in as the next supports ahead of its LT rising trendlineat 0.8932 where a cap is expected. We will have to see a trade below there (0.8932) to put our bullish view on hold and turn downside risk towards the 0.8798 level, its Feb 25'10 low. Alternatively, to reverse its current downside weakness, the pair will have to establish a foot hold on the 0.9250/0.9277 levels, its Mar 17'10/Jan 18'10 highs to set the tone for more up move towards the 0.9327 level, its Jan 14'10 high and ultimately, its 2009 high located at 0.9401.
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