AUDUSD (0.7022): The AUDUSD currency pair managed to recover from the sharp declines on Wednesday. Price action is seen retesting the breached support at 0.7022 at the moment. Failure to break past this resistance level could keep the Aussie Dollar subdued. However, the declines are likely to stall in the near term, unless price breaks past the lows of 0.6933. In the near term, we expect the AUDUSD to maintain a sideways range within the said levels. A breakout from 0.7022 or 0.6933 will most likely set the direction in the near term.
