FXStreet notes that AUD/USD advances for the third day and economists at Société Générale believe the pair faces initial resistance at 0.7315.
“AUD/USD has carved out a higher trough at 0.7170 as compared to the one in August at 0.7110. It has formed a tweezer bottom at this level.”
“Holding above 0.7170, AUD/USD could attempt a bounce towards 50-DMA at 0.7315. If this is overcome, the pair could extend the up move towards a multi month descending trend line at 0.7375 and last month peak of 0.7480.”