AUDUSD: With the pair turning off its intra day low at 0.7785 level to strengthen strongly on a rally today, risk could be building for a retest of the 0.8000 level. On the downside, support resides at the 0.7900 level where a breach will aim at the 0.7850 level. Below that level will set the stage for a run at the 0.7800 level with a cut through here targeting further downside towards the 0.7750 level. On the upside, resistance lies at the 0.8000 level. A cut through here will turn attention to the 0.8050 level and then the 0.8100 level where a violation will set the stage for a retarget of the 0.8150 level. On the whole, AUDUSD continues to retain its broader downtrend pressure though seeing taking some of its losses.
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