The AUDUSD pair opens today’s trading with clear positivity to begin the breaching process to the bearish channel’s resistance that declines now to 0.7635, which hints the price attempt to change its main track to the upside, especially that the EMA50 provides continuous positive support.
But, until now, we will continue with our neutrality until the price confirms breaching the mentioned resistance or breaking 0.7595 support, by monitoring the daily close according to these levels, noting that breaching the resistance will lead the price to head towards 0.7833 followed by 0.8115 levels mainly, while breaking 0.7595 support will push the price to resume the main bearish trend inside the bearish channel followed by heading towards 0.7448 then 0.7329 initially.
Expected trading range for today is between 0.7550 support and 0.7800
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
