The AUDUSD pair declined strongly on last Friday to retest the previously breached resistance that turns into support now at 0.7115, accompanied by witnessing clear oversold signals on stochastic, which supports the chances of bouncing bullishly in attempt to resume the bullish trend on the short term basis.
Therefore, we will keep our overall bullish trend unless breaking 0.7115 level and holding with a daily close below it, noting that the targets begin by breaching 0.7180 level to open the way to head towards 0.7415 as a next main station.
Expected trading range for today is between 0.7050 support and 0.7300
Expected trend for today: Bullish
Origin: Economies.com
