AUD/USD +260

USD made a huge run in recent weeks, from low seventies to high seventies, where it is currently. At the same time AUD did it in opposite direction, as the markets were selling off. Pair is on the support line that seems very strong, and we think that would take a lot of global selling in order to go bellow. As many are predicting high volatility of the market we think that this is the time to buy, and look for the upswing in global markets where buying will take place, before the end of the year. Reason for fear and worry is always there, but so is the hope and desire to make money. Technically we think that this is the good spot for the purchase of the currency leader when market is on the upswing, and of course we expect that news from China and asian markets surprise on the positive. Target can easily moved to a much higher point than 1.000, but we will play it a bit conservative at this moment. We will cut the trade bellow 0.9600