The AUDUSD faces solid resistance – Analysis 23-02-2024

1428657842_Foreks-AUD-USD-vyros-vo-vThe AUDUSD pair found difficulty to hold above 0.6570 level, and provided negative trades yesterday to test the EMA50 that formed good support against the price, to rise again and start new attempts to breach the mentioned level, which supports the continuation of the expected bullish trend for the upcoming period, which its next target located at 0.6640.

Stochastic provides positive signals now that we are waiting to assist to push the price to continue the rise, taking into consideration that failing to achieve the breach will push the price to decline and test 0.6500 areas before any new attempt to rise.

The expected trading range for today is between 0.6530 support and 0.6630 resistance

The expected trend for today: Bullish

Origin: Economies

 

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