AUDUSD: Further Weakness Envisaged.
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AUDUSD: With a third week of decline occurring the past week and a follow through seen on Monday and during Tuesday trading session, further bearishness cannot be ruled out. This development leaves the pair targeting further downside towards the 0.9300 level where a violation will target the 0.9250 level. On continued weakness, support comes in at the 0.9200 level with a break targeting further downside towards the 0.9150 level. On the upside, resistance resides at the 0.9542 level where a break will pave the way for a run at the 0.9764 level. This if taken out will open the door for a run at the 0.9850 level and then the 0.9900 level. All in all, the pair remains biased to the downside.