The AUDUSD pair managed to touch our main waited target at the main bearish channel’s resistance that appears on chart, and it attempted to breach this resistance without managing to hold above it until now, as the price is affected by stochastic negativity that pushes trading to test the minor bullish channel’s support that carries trading since the end of last May.
Until now, we still believe that the chances are valid to breach the main resistance that declines now to 0.7725 supported by the EMA50 that keeps carrying the price from below, waiting to open the way to extend the bullish wave to target 0.7833 level as a next main station, taking into consideration that breaking 0.7595 level will stop the positive possibility and lead the price for attempts to build short term bearish wave, its targets begin at 0.7448 and extend to 0.7210.
Expected trading range for today is between 0.7595 support and 0.7833
Expected trend for today: Bullish
Origin: Economies
