AUDUSD: Recovery Tone Intact While Above 1.0001/2 Levels

[FXTechstrategy Team]

AUDUSD: With the pair holding firmly above its broken resistance at the 1.0001/2 levels, the risk is for more recovery to occur. This will leave further upside towards the 1.0143 level. Further out, resistance resides at the 1.0218 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to this analysis is a return to the 1.0001/2 levels where a violation will aim at the 0.9819 level. Further down, support comes in at the 0.9735 level where a breach will call for a run at the 0.9584 level. All in all, the pair continues to retain its recovery.