AUD/USD Risk Remains To The Upside On Correction

AUD/USD looks to extend further higher as it holds on to its recovery threats. On the downside, support comes in at the 1.6550 level. A cut through here will turn focus to the 0.6500 level and then the 0.6450 level. A violation will set the stage for a retarget of the 0.6400 level. Conversely, resistance lies at the 0.6650 level where a breach will aim at the 0.6700 level. Below here will open the door for a run at the 0.6750 level and then the 0.6800 level. Its daily RSI is bullish and pointing higher suggesting more strength On the whole, AUD/USD faces further upside threats in the short term.