AUDUSD downside pressure remains towards 0.6850 level as we expect more weakness to occur. On the upside, resistance lies at the 1.6950 level. A cut through here will turn attention to the 0.7000 level and then the 0.7150 level where a violation will set the stage for a retarget of the 0.7200 level. Support resides at the 0.6850 level where a breach will aim at the 0.6800 level. Below here will set the stage for a run at the 0.6750 level with a cut through here targeting further downside pressure towards the 0.6700 level. On the whole, AUDUSD faces further downside threats medium term.
