The AUDUSD pair begins today’s trading with clear positivity after approaching from the bullish trend line that appears on chart, accompanied by witnessing positive signals through stochastic, which hints the chances of heading towards resuming the bullish trend on the medium term basis after showing some bearish correction recently.
On the other hand, the EMA50 forms negative pressure against the intraday trading and supports the strength of the key resistance 0.7595, which forms a contradiction between the technical factors that makes us prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by the mentioned resistance and 0.7520 support.
Note that breaching 0.7595 will push the price to regain the medium term bullish trend, which its positive targets begin at 0.7833 and extend to 0.8115, while breaking 0.7520 level represents the key to extend the bearish wave towards 0.7448 followed by 0.7329.
Expected trading range for today is between 0.7448 support and 0.7700
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
