AUDUSD: We continue to hold our upside bias on AUDUSD as it looks to return to the 1.0531/86 level. In such a case, further upside risk could be seen towards the 1.0623 level, its Sept 2012 high. A cut through here will set the stage for a push higher towards the 1.0700 level. On the downside, support stands at the 1.0403 level where breach will call for a run at the 1.0349 level and then the 1.0300 level. Further down, support comes in at the 1.0234 level All in all, the pair maintains its broader upside bias despite bear threats.
