The AUDUSD pair continues to fluctuate near the key support 0.7448 level keeping its stability above it, noticing that stochastic begins to curve bullishly inside the oversold areas, which forms positive motive that we are waiting to assist to push the price to resume the main bullish trend, targeting the main bearish channel’s resistance around 0.7780.
The EMA50 supports the expected rise, being aware that it is important to monitor the price behavior when reaching the targeted level, as breaching it represents the key to extend the pair’s gains on the longer term basis to reach 0.8115 as a next main station.
Expected trading range for today is between 0.7350 support and 0.7600
Expected trend for today: Bullish
Origin: Economies
