On a long-term basis we have no interest in selling this pair, 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 - 17 October – 21 October
After it was initially pushed lower in the course of the last week, Aussie found enough support around 0.75 handle and managed to rebound by the end of the week once again breaking above 0.76 handle, which indicates that there is no clear trend for the pair at the moment. As for next week focus will more be on China's GDP figures. We can expect some amount of support around 0.75 and 0.7450 handle and resistance above 0.7650 and 0.77 handle.
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