The AUDUSD pair rallied bullishly yesterday to breach 0.7595 level and approach from our next main target at 0.7655, accompanied by stochastic reach to the overbought areas, which supports the chances of bouncing bearishly to resume the main bearish trend, but we notice that the EMA50 provides continuous positive support that might push the price to breach the mentioned resistance.
Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 0.7595 support and 0.7655 resistance, noting that breaking this support will push the price to return to the main bearish track that its targets begin at 0.7448 and extend to 0.7329, while breaching the resistance represents positive factor that will lead trading to achieve more gains that target 0.7833 followed by 0.8115 areas mainly.
Expected trading range for today is between 0.7500 support and 0.7740
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
