AUDUSD: A rally through the 1.0279 level during Tuesday trading has opened up further upside risk towards the 1.0327 level. On a break of this level, further strength should build up towards its psycho level at 1.0400 where a breach will warn of further strength towards the 1.0473 level, its April’2012 high. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, a failure of its current bullish offensive could see AUDUSD return to the 1.0098 level. Further down, support comes in at the 0.9967 level followed by the 0.9920 level and then the 0.9819 level. All in all, the pair continues to retain its short term bullish tone.
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