AUD/USD Classical Technical Report 10.31
AUD/USD: Although it got very close, the market has successfully stalled out ahead of the previous September high to keep our core bearish outlook intact. We continue to look for the formation of the next major lower top ahead of a fresh downside extension back below 0.9385 over the coming weeks. It looks as though this lower top may now be in place at 1.0755 and from here, we will need to see a break back below 1.0320 for additional confirmation. Ultimately, only back above 1.0755 will negate and give reason for pause.
--- Written by Joel Kruger, Technical Currency Strategist
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