The AUDUSD pair kept its stability above the key support 0.7595 after the decline that appeared yesterday, to bounce upwards strongly by today’s opening, starting the attempts to breach the main bearish channel’s resistance again, located at 0.7710 now.
The EMA50 keeps supporting the price from below, to protect trading inside the minor bullish channel that appears on chart, noting that stochastic provides positive overlapping signal now that reinforce the chances of breaching the above mentioned resistance.
Therefore, these factors encourage us to keep our bullish overview for the upcoming period, which its main targets located at 0.7833 and extend to 0.8115, reminding you that it is important to hold above 0.7595 to achieve the suggested targets.
Expected trading range for today is between 0.7635 support and 0.7833
Expected trend for today: Bullish
Origin: Economies
