Further bearishness is still envisaged as AUDUSD extended its declines on Thursday. The pair is now seen testing the 1.0289 level, its daily 200 ema where a breach will push it further lower towards its July 25'2012 low at 1.0177 and then the 1.0100 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, the pair will have to return above the 1.0409 level and the 1.0611 level to annul its present bearishness. This if it occurs could open up further upside risk towards the 1.0650 level. Further out, resistance resides at the 1.0700 level. All in all, the pair continues to face its corrective downside tone.
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