AUDUSD is correlated to Chinese equities and data as China is a big exporter for Australia. China imports Australian resources mainly bauxite, coal, gold, LNG, some copper and iron ore, but when China slows it also slows Australian exports. Chinese imports fell app 20 % in September while Westpac consumer sentiment showed higher actual numbers vs estimate and previous number so fundamental data has been mixed through Asia session. Technically we can see POC at 0.7200 zone ( Inner trend line, trend line, historical vs now moment buyers) which is observed in a context of a huge W bullish pattern. If the price rejects of 0.7200 zone then 0.7280 ( W pattern breakout point ) and 0.7410 are possible targets. If we see a 4H close above H3 camarilla pivot the price should proceed towards 0.7490.
For this scenario to be valid the price should stay above 0.7150-40 zone.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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