AUDUSD: With the pair reversing its previous week losses to close higher the past week, the risk is for it to recapture the 1.0478 level. Though presently hesitating, its short term bias remains higher. A break of the 1.0478 level will call for a run at the 1.0623 level. A turn above here will call for a move higher towards the 1.0700 level and possibly the 1.0853 level. Its daily and weekly RSI are bullish and pointing higher supporting this view. On any pullback, the 1.0336 level will be targeted where a breach will aim at the 1.0257 level followed by the 1.0165/50 levels. All in all, the pair continues to maintain its upside risk.
