AUDUSD resumes rising – Analysis – 03.11.2016

1428657842_Foreks-AUD-USD-vyros-vo-vThe AUDUSD pair resumed its positive trading to surpass the EMA50 and settles above it, which supports the continuation of the bullish trend scenario in the upcoming period, which depends on the stability above 0.7595 and 0.7570 levels.

Therefore, we are waiting for positive trading on the intraday and short term basis, and the positive targets begin at 0.7833 and extend to 0.8115, noting that stochastic current negativity might force the price to provide some temporary sideways trading before resuming the expected bullish bias.

Expected trading range for today is between 0.7595 support and 0.7770

Expected trend for today: Bullish

102

Origin: Economies

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