AUDUSD: With AUDUSD remaining bullish and maintaining its short term uptrend, the risk is for the pair to strengthen further with eyes on the 1.0500 level though hesitating. Further out, resistance resides at the 1.0556 level with a violation will allow for more upside towards the 1.0600 level, its psycho level and then the 1.0650 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the alternative scenario will be for the pair to return to the 1.0442 level where a reversal of roles as support is likely to occur. But if this fails to happen, the pair will weaken further towards the 1.0380 level where a breach will aim at the 1.0290 and then the 1.0177 level. All in all, the pair continues to retain its short term bullish tone.
