AUDUSD: Having turned lower off its higher prices following an end to its correction on Thursday, further decline is now seen. Support lies at the 0.8650 level with a cut through here turning attention to the 0.8600 level and then the 0.8550 level where a violation will set the stage for a retarget of the 0.8500 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.8800 level where a breach will aim at the 0.8850 level. Above that level will set the stage for a run at the 0.8900 level with a cut through here resuming its broader uptrend towards the 0.8950 level. All in all, the pair faces further downside risk.
AUDUSD: Having turned lower off its higher prices following an end to its correction on Thursday, further decline is now seen. Support lies at the 0.8650 level with a cut through here turning attention to the 0.8600 level and then the 0.8550 level where a violation will set the stage for a retarget of the 0.8500 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.8800 level where a breach will aim at the 0.8850 level. Above that level will set the stage for a run at the 0.8900 level with a cut through here resuming its broader uptrend towards the 0.8950 level. All in all, the pair faces further downside risk.
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