From Credit Suisse:
Extension below .9253/51 should keep the bias lower to test early April low at .9205 next.
AUDUSD has bounced initially at price support at .9253. Resistance at .9302 needs to cap keep the immediate biaslower for a clear break of .9253 to challenge the .9205 early April low next. While this should be allowed to hold at first, a break would be expected in due course for a test of what we would expect to be better support at .9174/53 – the 38.2% retracement of the January/April rally, uptrend from late January and the 200-day average. Above .9302 can see a small base for .9315, then .9332, which we look to try and cap. Above can see a deeper recovery, but only above .9380 eases the immediate downside bias.