AUD/USD Faces Price Recovery Risk Off Recent Low

AUD/USD faces price recovery risk as it looks to follow through higher on the back of Monday higher close. Support comes in at the 0.7000 level where a breach will aim at the 0.6950 level. Below that level will set the stage for a move towards the 0.6900 level. A cut through here should target further downside pressure towards the 0.6850 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. On the whole, AUD/USD faces further recovery threats in the days ahead.

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