AUDUSD has been trading in an uptrend for some time now, setting higher highs and lower lows since early December. However, last week AUDUSD was unable to surpass its recent high of 0.73111 and as a result the price has fallen and broken structure. The price is now trading at a key demand zone, if the price can stabilise here then a retest of the recent high (0.718) is possible. The RSI levels on the 1hr and 4hr time frame show oversold values at which adds to our short- term long bias.