09:40, 10 December

Daily Analysis

On Tuesday last week we covered the AUDUSD and the key level at the time was the 0.73 level. However the AUDUSD spent all of last week falling sharply moving right through the 0.73 level and it now has eyes on another key level at 0.7150. Just prior to its recent push higher the AUDUSD had been quite content to take a breather and enjoy solid support from 0.7050 as it has traded along that level for several weeks throughout October. 

The 0.7150 level has also played a role in the last couple of months as it has bounced off this level several times, and may be called upon again should the AUDUSD continue to decline after its strong fall last week.