AUD USD resumes the decline – Analysis - 25/05/2015
Economies.com
2015-05-25 04:51AM UTC
The AUDUSD pair traded with clear negativity after testing the EMA50 on last Friday, to touch our first main target at 0.7800, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and breaking the mentioned level will confirm extending the bearish wave towards our next target at 0.7680.
Therefore, we will continue to suggest the bearish trend in the upcoming period supported by the negative pressure that comes from the EMA50, noting that breaching 0.7925 level might stop the bearish bias and push the price to retest 0.8040 areas before any new attempt to decline.
Expected trading range for today is between 0.7700 support and 0.7925
Expected trend for today: Bearish
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