The AUDUSD pair continued its decline to touch the short term bullish trend line that met the bearish channel’s support line as appears on chart, accompanied by witnessing positive signals through stochastic, which supports the chances of bouncing bullishly to resume the bullish trend in the upcoming sessions, targeting testing the bearish channel’s resistance around 0.7895 initially.
Therefore, we suggest the continuation of the oveall bullish trend unless breaking 0.7800 level and holding with a daily close below it, noting that breaching 0.7895 will open the way to extend the pair’s gains to reach 0.8000 followed by 0.8115.
Expected trading range for today is between 0.7750 support and 0.7950
Expected trend for today: Bullish
Origin: Economies
