(16 OCTOBER 2018)AUD/USD:Bullish bias above 0.7120.

Pivot (invalidation): 0.7120

Our preference

Long positions above 0.7120 with targets at 0.7150 & 0.7165 in extension.

Alternative scenario

Below 0.7120 look for further downside with 0.7105 & 0.7095 as targets.

Comment

The RSI lacks downward momentum.

(By Swissquote TRADING CENTRAL)