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Industrial Metals Squeeze – AUD/USD Outlook

Post Views: 219 Rising Industrials Rising commodity prices while speculators remain net short implies continued profits. The next target for the AUD / USD pair is the 100-day SMA at 0.7416 and at the peak on September 3 at 0.7478. The weakening of the dollar over the past few days is certainly one of the reasons for the higher pressure, but the Australian himself is showing some resilience, after briefly falling below 0.7200 in late September. Risk sentiment is a bit more mixed this week, but a more optimistic mood won’t hurt AUD, which has more to do with rising commodity prices in recent weeks than anything else. What’s next for AUD / USD? Comment on the chart: The 100-day…

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 Junior Trader Nikolay Yordanov

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