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Westpac: AUD/USD has room for growth

According to analysts at Westpac, AUD/USD now targets $0.9415 multiday/week. They emphasize that the threat of further RBA rate cuts will rise above the $0.9400 handle, so the pair is likely to reverse down from this area. They expect to see the next rate cut in November (currently only 35% priced in). 

A rise higher, to $0.9510 (38.2% Fibonacci retracement of the April-August slide) would probably require a notably dovish FOMC.

Chart. Daily AUD/USD


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