AUDUSD: With a sharp rally seeing the pair reversing most its corrective losses, the risk is for it to return above the 1.0488 level. This will trigger further upside and resume its short term uptrend. In such a case, the 1.0520 level will be targeted. The ultimate target lies at the 1.0611/23 level. On the downside, support stands at the 1.0400 followed by 1.0350 level where a breach will aim at the 1.0300 level. Further down, support comes in at the 1.0234 level. A breach will push it lower towards the 1.0198 level. All in all, the pair continues to retain its upside risks short term
