The AUDUSD hits the first target – Analysis 16-10-2023

aud_newsThe AUDUSD pair succeeded to touch our first waited target at 0.6285, noticing that the decline stopped at this level, to start providing recovery signals on the intraday basis, accompanied by witnessing clear positive signals through stochastic, making the bullish bias suggested for today, waiting to test 0.6400 initially.

Note that breaching the targeted level will extend the bullish wave to reach 0.6490 followed by 0.6545 areas as next positive targets, while breaking 0.6285 will stop the expected rise and push the price to resume the main bearish track again.

The expected trading range for today is between 0.6280 support and 0.6380 resistance

The expected trend for today: Bullish

Origin: Economies

 

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