AUD/USD Weekly Analysis – Sunday, October 22


AUD/USD remains in a downtrend from 0.8124. The bounce from 0.7732 is likely a correction of the downtrend. A further rally is likely be seen in the coming days with a target of 0.7986.

However, the downtrend could be expected to resume after the correction. Another fall to test the support of the resistance-turned-support trend line on the weekly chart is still possible.

AUDUSD daily chart

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