📈 Australian Dollar Holds Positive Profile Ahead: Cable FX Macro

• The chart below shows AUD/USD seasonal trading pattern looking back a 25yr history. The thesis is simple; capture the multi-week seasonal rally from the early October trough (-0.65%) to the early November seasonal peak (+1.51%), targeting an expected directional move of approximately +2.00% to +2.15%.

• Currently, spot prices are forming a flag base after a bearish rally developed from early September, which goes in line with the seasonal profile. A break above the recent range, topping 0.6991, could see gains above 0.7000, and the rate wouldn't face a decent resistance until 0.7100.

• The RSI flagged oversold back in late September; it has retraced to almost neutral ground at 43.0.

• Multi-week holding periods ask for patience; try splitting positions in 1/2s X.