The AUDUSD pair rallied sharply to the upside yesterday after retesting 0.7415 level, to reach the thresholds of the minor bullish channel’s resistance located at 0.7630, reinforcing our expectations of the bullish trend on the intraday and short term basis, and the price needs to breach this level to open the way to extend the bullish wave towards 0.8000 then 0.8070.
The EMA50 and stochastic are offering positive signals on the daily time frame, which supports the expectations of more rise in the upcoming period, reminding you that holding above 0.7415 represents the first condition to continue the suggested bullish bias.
Expected trading range for today is between 0.7500 support and 0.7700
Expected trend for today: Bullish
