AUDUSD: Faces Price Hesitation, Threatens Pullback
AUDUSD: With price hesitation setting in and halting its recovery started off the 0.7862 level, a move back lower could be building up. On the downside, support resides at the 0.7963 level where a breach will aim at the 0.7900 level. Below that level will set the stage for a run at the 0.7862 level with a cut through here targeting further downside towards the 0.7800 level. On the upside, resistance lies at the 0.8150 level. A cut through here will turn attention to the 0.8200 level and then the 0.8250 level where a violation will set the stage for a retarget of the 0.8300 level. On the whole, AUDUSD continues to retain its broader downtrend pressure though recovering.
