AUDUSD Remains On The Offensive On Correction

Technical analysis of Forex market

AUDUSD remains on the offensive on correction with more gain expected. On the upside, resistance lies at the 1.7050 level. A cut through here will turn attention to the 0.7100 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6950 level where a breach will aim at the 0.6900 level. Below here will set the stage for a run at the 0.6850 level with a cut through here targeting further downside pressure towards the 0.6800 level. On the whole, AUDUSD faces further upside threats.

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