On a long-term basis we have no interest in selling this pair, despite this decline, as we believe that there is plenty of support for it all the way to 0.74 handle. With that being the case, we would use pullbacks and break above daily highs as buying opportunities, since Aussie looks quite strong at the moment.
AUD/USD Weekly Forecast - 10 October – 14 October
After Aussie initially tested 0.77 handle in the the course of the last week, it pulled back unable to break above it and went all the way to 0.7550 handle where it found some amount of support but still finished the week below 0.76 handle. As for next week focus will more be on China's figures. We can expect some amount of support around 0.75 and 0.7450 handle and resistance above 0.7650 and 0.77 handle, last week's high.
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