AUDUSD faces bear risk as it eyes its key support located at 0.7141/43. This is coming on the back of its weakness during Tuesday trading session. Support resides at the 0.7141/43 level where a breach will aim at the 0.7100 level. A move below that level will set the stage for a run at the 0.7100 level. Further down, AUDUSD should extend its decline towards the 0.7050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lies at the 1.7200 level. A cut through this level will turn attention to the 0.7300 level. The next resistance comes in at the 0.7350 level where a violation will set the stage for a retarget of the 0.7400 level. On the whole, AUDUSD faces further downside threats as it looks to recapture its key support.

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This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report

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