Thursday, October 15, 2026

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FxWirePro: AUD/USD re-attempts 0.74 handle, rally in base metals’ supports

AUD/USD re-attempts 0.74 handle, but fails to break stiff resistance. Rally in base metals’ prices, particularly copper, along with upbeat Australian business conditions data boosted the Aussie. The NAB Business Conditio…

By FxWire Pro
1 min read
FxWirePro: AUD/USD re-attempts 0.74 handle, rally in base metals’ supports
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  • AUD/USD re-attempts 0.74 handle, but fails to break stiff resistance.
     
  • Rally in base metals’ prices, particularly copper, along with upbeat Australian business conditions data boosted the Aussie.
     
  • The NAB Business Conditions for May came in at 10 versus 10 last (revised higher from 9), while confidence ticked lower to 3 versus 5 previous.
     
  • In the week ahead, we have Australia inflation expectations and jobs report along with the FOMC decision, the main risk event.
     
  • Support is seen at 0.7372 (10-DMA), 0.7365 (trendline) and then 0.7348 (4H 200-SMA). Break below could see further weakness.
     
  • Resistance is seen at 0.7409 (38.2% Fib of 0.7835 to 0.7145 fall) and then at 0.7411 (5-DMA).
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-struggles-at-074-handle-bias-lower-220947) has hit TP1.
     
  • We recommend booking partial profits, stay short. Bearish invalidation only above 0.75 levels. 
     

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EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team