AUDUSD approaches from the target – Analysis – 10/08/2016

prognoz dollarThe AUDUSD pair continues to rise to approach from our main waited target at 0.7735, which represents the main bearish channel’s resistance that appears on chart, which hints the importance of monitoring the price behavior when reaching this level, as breaching it represents the key to extend the bullish wave to reach 0.8115 on the near term basis, while holding against the current rise will push trading to rebound bearishly followed by resuming the bearish trend inside the mentioned bearish channel.

In general, we will continue to suggest the bullish bias in the upcoming sessions unless breaking 0.7595 level and holding below it.

Expected trading range for today is between 0.7595 support and 0.7800

Expected trend for today: Bullish

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Origin: Economies

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