AUD/USD Forex Report 3rd October 2016

AUD/USD Primary & Weekly Cycles

AUD remains bullish as it's trading above the Yearly 50% level with .7595 being support with random resistance around the October highs @ .7775

As we can see the monthly channels are now contracting, and it's going to result in a breakout either way.

Therefore there are two plays coming into the start of the 4 quarter and final 3-month cycle.

1. continue to trend towards .8060 - 8160

2. hit .7775 stall and then revisit .7415 

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