The AUDUSD pair found difficulty to breach the key resistance 0.7604, to rebound bearishly and approach from retesting the previously breached resistance of the correctional bearish channel that appears on chart, noticing that the EMA50 attempts to protect the price from suffering more losses, while stochastic reaches the oversold areas.
Therefore, we believe that the chances are valid to rebound bullishly and resume the bullish trend on the short term basis, waiting to breach 0.7604 level to confirm opening the way to head towards 0.7739 as a next main target, noting that breaking 0.7519 level will stop the bullish wave and push the price to decline again.
Expected trading range for today is between 0.7500 support and 0.7660
Expected trend for today: Bullish
Origin: Economies
