AUDUSD awaits the confirmation – Analysis - 29-05-2017

The AUDUSD pair fluctuates between the key levels represented by 0.7440 support and the resistance that rises now into 0.7475, and the price needs to breach one of these levels to detect its next destination clearly, which makes us continue within our neutrality until now, waiting to get clearer confirmation signal for the next trend.

We remind you that breaking the mentioned support will put the price under negative pressure that its targets begin by testing 0.7383 and extend to 0.7299, while breaching 0.7475 will bring the price back to the main bullish track again, to target 0.7519 followed by 0.7604 levels mainly.

Expected trading range for today is between 0.7340 support and 0.7520

Expected trend for today: Depends on the above mentioned levels