TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - AUD/USD
Thursday, October 16, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 109.62
Despite yesterday`s initial weakness, as dollar is able to stage a strong rebound after finding renewed buying above 108.66, consolidation with initial upside bias is likely today, however, as long as this week`s top at 110.28 holds, prospect of another retreat toward 118.66 is still envisaged later today or tomorrow...


INTRA-DAY AUD/USD OUTLOOK

(Update at 23:23GMT 2003/10/15)

Yesterday`s strong retreat from 0.6924 suggests a day of consolidation is in store in Asia, however, as long as previous support at 0.6826 holds, another rebound is envisaged, however, above 0.6924 is needed to signal recent uptrend has finally resumed.

Incline to buy Aussie on further weakness, stop below said support and take profit on subsequent bounce...

Rate:

















0.6872
Strategy / Entry Level:




Buy again at 0.6850
Position:

Objective:













0.6900/05

Stop-Loss:













0.6925
Range Forecast:









0.6855 / 0.6880
Resistance:












0.6924/0.6958/0.6987
Support:














0.6867/0.6826/0.6767



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