AUDUSD: The pair is on a bullish offensive breaking through its minor resistance levels at 1.0680/87 to pave the way for a push further higher towards the 1.0749 level, its Oct 27’2011 high. On continued upside momentum, the 1.0800 level, its psycho level will be targeted with a breach opening the door for more strength towards the 1.0900 level, representing psycho level. The bigger resistance lie stands at the 1.1000 followed by its July 2011 high at 1.1078. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, on any pullbacks, the 1.0569 level, its Oct 31 high will be aimed at where a violation will pave the way for a run at 1.0444 level. A reversal of roles as support is expected to occur here and turn the pair higher. However, below here if seen will set the stage for further declines towards the 1.0230 level, its Jan 13’2012 low and then the 1.0141 level, its Jan 09’2012. All in all, the pair continues to face the risk of strengthening further with eyes on the 1.0749 level and beyond
