AUDUSD Daily Analysis – Tuesday, Oct. 16

AUDUSD broke above 0.7130 resistance, suggesting that the downside movement from 0.7314 had completed at 0.7041 already.

Further rally could be expected in the coming days and next target would be at 0.7200 area. Near-term support is at 0.7095, only a breakdown below this level could trigger another fall to test 0.7041 support.