AUDUSD approaches the first target – Analysis - 07/10/2015

The AUDUSD pair continues to rise approaching from the first main waited target at 0.7200, reinforcing the suggested positive scenario on the intraday and short term basis, which was activated after breaching the bearish channel’s resistance that appears on chart.

The EMA50 continues to support the bullish wave from below, waiting to extend the bullish wave towards 0.7280 followed by 0.7415 levels on the near term basis, conditioned by keeping stability above 0.7030 level to achieve the suggested positive targets.

Expected trading range for today is between 0.7100 support and 0.7300

Expected trend for today: Bullish