The AUD/USD attempts to recover – Analysis – 07/12/2021

forex-news-aud_1The AUDUSD pair bounced bullishly after leaning on the bearish channel’s support line, to head towards testing this channel’s resistance around 0.7115.

Therefore, the bullish bias will be suggested for today, noting that the expected rise is temporary, waiting to rebound bearishly to resume the main bearish trend within the mentioned channel, taking into consideration that breaching 0.7115 will lead the price to achieve more gains and start correctional bullish wave on the intraday basis.

The expected trading range for today is between 0.7030 support and 0.7115 resistance

The expected trend for today: Bullish temporarily

Origin: Economies

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