Detailed FX Market Outlook and Analysis

AUD/USD Daily Analysis 24-OCT-2022

AUD/USD CHF Daily Analysis

Intraday bias in AUD/USD stays mildly on the upside for the moment. Recovery from 0.6169 short-term bottoming would target 0.6539 resistance first. Firm break there will target 55 days EMA (now at 0.6602). For now, near-term risk is mildly on the upside as long as 0.6169 support holds, in case of another dip.

In the bigger picture, the downtrend from 0.8006 (2021 high) is expected to continue as long as 0.6680 support turned resistance holds. The next target is 0.5506 low. Medium-term momentum will now be closely monitored to gauge the chance of a break of 0.5506.

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