AUDUSD: With AUDUSD bullish and recovering higher taking out the 0.9004 level, its Jan 03’2013 high, further strength is expected in the days ahead. Immediate resistance comes in at the 0.9050 level with a cut through here paving the way for a run at the 0.9100 level, its psycho level. A violation of here if seen will target the 0.9166 level, its Dec 10 2013 high. Further out, resistance resides at the 0.9200 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on pullback, support comes in at the 0.9004 level the 0.8900 level, its psycho level where a reversal of roles is expected to occur and turn the pair higher. However, if this level fails to hold, expect further decline to occur towards the 0.8824 level and subsequently the 0.8800 level. All in all, the pair remains biased to the upside on recovery.
