The AUDUSD pair ended yesterday’s trading at 0.7604 after the negative pressure that appeared, while the bullish channel’s support line that appears on chart turns into key resistance now at 0.7610, which means that the price needs to breach this level to confirm regaining its bullish track again.
Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to 0.7611 and 0.7604 levels, as breaching the first level will lead the price to rise and visit 0.7739 areas initially, while holding below 0.7604 will put the price under the correctional bearish pressure again, which its next main target located at 0.7519.
Expected trading range for today is between 0.7519 support and 0.7700
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
