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AUDUSD: Strengthens, Maintains Recovery Tone

AUDUSD: With AUDUSD triggering a recovery higher, further bullishness is envisaged. On the upside, resistance resides at the 0.7500 level where a breach will aim at the 0.7550 level. Below that level if seen will set the stage for a run at the 0.7600 level with a cut through here targeting further downside towards the 0.7650 level. On the downside, support lies at the 0.7400 level. A cut through here will turn attention to the 0.7350 level and then the 0.7300 level where a violation will set the stage for a retarget of the 0.7250 level. On the whole, AUDUSD continues to retain its broader downtrend pressure but faces corrective recovery threats.

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