AUDUSD: Corrective Risk Continues To Point Lower.

AUDUSD: The pair remains vulnerable to the downside on corrective pullback as it closed lower for the week. This development now leaves AUDUSD vulnerable to the downside towards the 1.0327 level. As long as this caps declines, its short term upside remains intact. Another support lies at the 1.0290 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, for the pair to resume it short term uptrend, it will have to return above the 1.0611 level. Further out, the 1.0700 level, its psycho level comes in as the next upside followed by possibly higher towards the 1.0853 level. All in all, the pair continues to hold on its corrective pullback risk.