The AUDUSD maintained a bearish momentum yesterday, topped at the 0.9232 levels, and bottomed at the 0.9101 levels, now pressure will be on the key support 0.9101.
The AUDUSD will have to hold below the 0.9101 levels on a daily closing basis to push the market for further downside losses If seen ,It would build a strong pressure on the 0.9056 levels or even break below this level, losing 0.9056 levels would open 0.8933 levels , a break would target the 0.8847 levels.
Alternatively, a failure to hold below the 0.9101 levels could mean a return to the 0.9232 levels, stability above the 0.9232 levels on a daily closing basis would build a strong pressure on the 0.9317 levels.
In all as long as 0.9232 holds on a daily closing basis , the pair will remain biased to the downside with risk towards 0.9056/.08847 levels.
For further reading : :AUDUSD – Weekly Forecast 19-23 Aug 2013