AUD/USD Weekly Analysis – Wednesday, Oct. 10

AUD/USD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.7314 had completed at 0.7041 already. Further rally would likely be seen in a couple of days and next target would be at 0.7200 area. Near term support is at 0.7080, only a breakdown below this level could bring the price back towards 0.7041 previous low.

AUDUSD 4-hour chart

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