AUDUSD - With a rejection of higher prices seen during early trading today and triggering a strong weakness, further downside is likely in the days ahead. On the downside, support lies at the 0.9350 level where a violation will aim at the 0.9300 level followed by the 0.9250 level. A cut through here will turn attention to the 0.9200 level. Its daily RSI is bearish and pointing lower supporting this view. Resistance resides at the 0.9550 level where a break will aim at 0.9600 level. On continued bullishness, the 0.9650 level followed by the 0.9700 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, the pair faces a corrective recovery risk.
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