The AUDUSD pair rallied upwards strongly affected by the big rise at the employment change at the Australian economy, to breach 0.7519 level and settles above it, noticing that the price begins today with more positivity to attack the correctional bearish channel’s resistance and attempt to hold above it, which opens the way to continue the bullish wave on the intraday and short term basis and stop the negative pressure that dominated the recent trading.
Therefore, the bullish trend will be suggested in the upcoming period, and the next targets begin by breaching 0.7604 level to confirm the continuation of the bullish rally towards the recently recorded top at 0.7739, taking into consideration that breaking 0.7519 will stop the positive scenario and put the price under the correctional bearish pressure again.
Expected trading range for today is between 0.7500 support and 0.7670
Origin: Economies
