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AUD/USD Technical Outlook - 3 (Long Term)

|Includes:CurrencyShares Australian Dollar Trust ETF (FXA)

In the weekly chart, it is observed that the pair is in the lower band of the channel and this fact implies that for the intermediate term, the bulls will have the upper hand.

The target for this likely rally is 1.0227 and as long as Aussie holds above the 0.88 support, the bullish scenario remains in force.

Stocks: FXA