The AUDUSD price completes the positive pattern– Forecast today – 16-05-2024

newzeeland_dollarAUDUSD Price Analysis

Expected Scenario
The AUDUSD price traded with clear positivity yesterday after confirming breaching 0.6640$ level, to approach our first waited target at 0.6728$, noting that the completion of the positive pattern that appears on the chart makes us suggest breaching the mentioned level and head towards 0.6800$ as a next positive target.
Therefore, we expect to witness more rise in the upcoming sessions unless breaking 0.6640$ and holding with a daily close below it.

Expected Trading Range
Between 0.6650$ support and 0.6750$ resistance

Trend Forecast: Bullish

Origin: Economies

 

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