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USD Trading Outlook (18-10-2013)

The USD has been heavily sold across the board after the temporary resolution to the debt-ceiling impasse showed the market that another similar situation will arise early next year. AUD/USD broke above barrier protection at .9600 and seems likely to test technical resistance levels above 97 cents. Today sees a speech from RBA Governor Stevens as well as Chinese GDP on the economic calendar. Given the events of the last 24 hours, I think we can expect a lively session with downward pressure on the USD set to continue.

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