AUDUSD Broader Trend Remains Lower, Eyes 0.7042 level

AUDUSD broader trend remains lower as it eyes the 0.7042 support level. Support resides at the 0.7042 level where a breach will aim at the 0.7000 level. Below here will set the stage for a run at the 0.6950 level with a cut through here targeting further downside pressure towards the 0.6900 level. On the upside, resistance lies at the 1.7100 level. A cut through here will turn attention to the 0.7150 level and then the 0.7200 level where a violation will set the stage for a retarget of the 0.7250 level. Its daily RSI is bearish and pointing higher suggesting further strength. On the whole, AUDUSD faces further downside threats with eyes on key support.