AUDUSD: With AUDUSD extending its Monday weakness and breaking through the 1.0219 level, further downside is envisaged in the days ahead. This development leaves the pair targeting the 1.0150 level. A cut through here will turn attention to the 1.0100 level and then the 1.0050 level. Further down, support comes in at the 1.0000 level. Its daily RSI is bearish and pointing lower suggesting further downside. Conversely, AUDUSD will have to return above the 1.0219 level to halt its present downside pressure. This if seen could drive it further higher towards the 1.0322 level and then the 1.0357/84 levels. The next upside objective resides at the 1.0450 level. All in all, the pair remains biased to the downside in the medium term.
