AUDUSD: Strengthens, Targets Further Upside
AUDUSD - With marginal price extension seen on Wednesday and a follow-through higher occurring today, further bullishness is likely towards the 0.9500 level. A break and hold above here will aim at the 0.9550 level and subsequently the 0.9600 level, its psycho levels. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 0.9400 level where a break will aim at the 0.9303/7 levels where a reversal of roles is likely to occur. Further down, support comes in at the 0.9250 level followed by the 0.9200 level where a break will turn focus to the 0.9166 level. All in all, the pair remains biased to the upside on further bull risks in the medium term.
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