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AUDUSD Risk Continues To Point Higher On Recovery

AUDUSD risk continues to point higher on price recovery in the new week. On the upside, resistance lies at the 1.7000 level. A cut through here will turn attention to the 0.7050 level and then the 0.7100 level where a violation will set the stage for a retarget of the 0.7150 level. Its daily RSI is bullish and pointing higher suggesting more upside pressure. Support resides at the 0.6900 level where a breach will aim at the 0.6850 level. Below here will set the stage for a run at the 0.6800 level with a cut through here targeting further downside pressure towards the 0.6750 level. On the whole, AUDUSD faces further upside threats.

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