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  • Goldman Sachs sees the Turkish Central Bank cutting rates by 100bps over next three central bank meetings
  • Cable has undergone a nice rally as of late, with it having risen over four figures off the September low.Get your $GBPUSD market update from @PaulRobinsonFX here:https://t.co/jdNzvlgecz https://t.co/kF4pZgwiOz
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.35% 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.04% 🇬🇧GBP: -0.04% 🇦🇺AUD: -0.18% 🇳🇿NZD: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SSMahbp5s0
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Germany 30: -0.19% Wall Street: -0.21% France 40: -0.23% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8116UpQzpE
  • Yen Pullback Begins: EUR/JPY, GBP/JPY, AUD/JPY, CAD/JPY https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/10/21/Yen-pullback-begins-EUR-JPY-EURJPY-GBP-JPY-GBPJPY-AUD-JPY-AUDJPY-CAD-JPY-CADJPY.html https://t.co/iZpZvFopiF
  • The oil price breakout has extended into the first level of lateral resistance- risk for some ‘back and fill’ here but the outlook remains constructive. Get your market update from @MBForex here:https://t.co/jdNzvkYCNZ https://t.co/OlqgYQLcxK
  • Tesla opened lower as afterhours trade yesterday suggested we would, but after the gap down, we've had a strong rally this morning. I wonder if the Robinhood-type crowd trades before/after hours or if that is the traditional segment https://t.co/tFVllKbBKb
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.40% Oil - US Crude: -1.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ek6GdiGhQ3
  • The Turkish Central Bank cut its weekly repo rate to 16%, marking a 200bps cut vs expectations for a 50-100bps reduction. Get your market update from @JMcQueenFX here: https://t.co/Gz3yZYqZdn https://t.co/C1PgJsCoGp
  • 🇺🇸 CB Leading Index MoM (SEP) Actual: 0.2% Expected: 0.4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-10-21
AUD/USD Shorts Favored above 1.0400

AUD/USD Shorts Favored above 1.0400

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUD/USD Shorts Favored above 1.0400

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: “It’s possible that this is the beginning of the larger AUDUSD triangle E wave towards 9800-9900. The most aggressive AUDUSD target is 9700. This objective is reached by extending the 10148-10598 range from 10148 (10148 needs to break first of course).”

FOREXTrading Strategy: Looking to short strength above 10400. Resistance is estimated from the 50% retracement of the decline from 10597 at 10412 and where the rally from 10226 would consist of 2 equal legs at 10422. 10460 (February high) is risk for bears.

LEVELS: 10192 10227 10307 10374 10410/20 10460

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