The AUDUSD pair continued its negative trading after breaking 0.7415 level, and as we mentioned in our last report, the price is falling under negative pressure that targets testing 0.7329 areas, waiting to bounce bullishly from this level to resume the bullish trend on the short term basis.
The EMA50 forms good support base in attempt to protect the suggested positive scenario, while stochastic continues to provide the oversold signals, which reinforce the chances of resuming the bullish trend in the upcoming sessions, which its targets begin by breaching 0.7448 barrier to open the way to head towards 0.7595, noting that breaking 0.7329 level will put the price under more negative pressure that will lead trading towards 0.7210 as a next main station.
Expected trading range for today is between 0.7300 support and 0.7500
Expected trend for today: Overall bullish
Origin: Economies
