AUD USD touches the resistance – Analysis - 27/04/2015

The AUDUSD pair touched the sideways range resistance that appears on chart located at 0.7840, showing bearish rebound hinting a potential visit to this range’s support in the upcoming period, located at 0.7558.

Therefore, the sideways range will remain dominant on the intraday basis between the above mentioned levels until the price manages to breach one of them, noting that breaching the resistance will allow the price to achieve good intraday gains that start at 0.7935 then 0.8115, while breaking the support will push the price to resume the main bearish trend again, which its initial targets located at 0.7400 followed by 0.7200.

Expected trading range for today is between 0.7700 support and 0.7935

Expected trend for today: Sideways