The AUD/USD presses on the support – Analysis – 03/08/2020

aud_newsThe AUDUSD pair presses negatively on the main bullish channel’s support line, and we notice that the EMA50 attempts to protect the price from achieving more decline, while stochastic shows clear oversold signals, which forms positive factors that we are waiting to assist to push the price to rise again.

Therefore, the main bullish trend scenario will remain suggested for the upcoming period, and the targets begin by surpassing 0.7200 to extend towards 0.7290, reminding you that it is important to hold above 0.7120 and 0.7065 levels to continue the expected rise.

The expected trading range for today is between 0.7080 support and 0.7200

The expected trend for today: Bullish

Origin: Economies

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