AUDUSD reaches the first target – Forecast – 11/08/2017

1428657842_Foreks-AUD-USD-vyros-vo-vThe AUDUSD pair continues to decline to reach the first waited target at 0.7830, organized inside the bearish channel that appears on chart, which supports the chances of continuing the bearish bias in the upcoming sessions, waiting to test 0.7775 as a next main station.

Therefore, we expect witnessing more decline on the intraday basis, noting that breaking the extended target will push the price to suffer more losses on the short term basis, while the expected bearish trend will remain valid conditioned by holding below 0.7915.

Expected trading range for today is between 0.7775 support and 0.7915

Expected trend for today: Bearish
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Origin: Economies

 

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