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AUDUSD: Weakens On Trend Resumption

AUDUSD: Having continued to maintain its broader downtrend, further bearishness is envisaged. On the downside, support resides at the 0.7250 level where a breach will aim at the 0.7200 level. Below that level will set the stage for a run at the 0.7150 level with a cut through here targeting further downside towards the 0.7100 level. On the upside, resistance lies at the 0.7350 level. A cut through here will turn attention to the 0.7400 level and then the 0.7450 level where a violation will set the stage for a retarget of the 0.7500 level. On the whole, AUDUSD continues to retain its broader downtrend pressure.

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