AUD USD attempts to recover – Analysis - 30/09/2014

The AUDUSD pair begins today’s trading with bullish bias testing 0.8750 areas, as the price is affected by stochastic current positivity, but in general, the negative pressure still valid on the intraday and short term basis as long as the price is below 0.8855, noting that breaking 0.8660 will confirm extending the decline to target 0.8400 levels.

On the other hand, breaching 0.8855 level will push the price to recover on the intraday basis and test 0.9000 areas and might extend to 0.9195.

Expected trading range for today is between: 0.8600 support and 0.8800 resistance.

Expected trend for today: Bearish