(19 October 2020)AUD/USD Bullish bias above 0.7070.

Pivot
 (invalidation): 0.7070
Our preference
Long positions above 0.7070 with targets at 0.7110 & 0.7125 in extension.
Alternative scenario
Below 0.7070 look for further downside with 0.7055 & 0.7040 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limitedv

(By Swissquote TRADING CENTRAL)