AUDUSD: Focus Remains On The 0.8997 Level.

[FXTechstrategy Team]

AUDUSD: With continued bearishness seen, the risk is for more weakness towards the 0.9000/0.8997 levels to occur. A breach of here will call for a run at the 0.8900 level and possibly lower towards the 0.8850 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, AUDUSD will have to recapture the 0.9209 level and the 0.9305/44 levels to validate its temporary bottom forming scenario. Further out, resistance comes in at the 0.9400 level and next the 0.9450 level. All in all, the pair remains biased to the downside medium term.

 

[xProphet]

I've got two scenarios for you. 1. Last few days are just your usual corrective wave before continuing with the trend. (lest likely) 2. A lot of sideways osculating like movement for a month or more (most likely.) Assuming nothing happens that would otherwise jump start a trend.