The AUDUSD pair showed positive attempts yesterday to breach 0.7519 level and settle above it, which forms positive signal that might assist to push the price to rise again and stop the negative pressure that dominated the recent trading, but we notice that the EMA50 forms negative pressure against the intraday trading, besides the negativity that appears on stochastic now.
Therefore, this contradiction between the technical factors makes us prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 0.7519 support and 0.7604 resistance, waiting to breach one of them to detect the next destination clearly, noting that breaking the mentioned support will push the price to target 0.7451 followed by 0.7383 levels mainly, while breaching 0.7604 will lead the price to regain the main bullish track that its first main target located at 0.7739.
Expected trading range for today is between 0.7420 support and 0.7620
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
