AUDUSD begins the breaching process – Analysis - 08-12-2016

The AUDUSD pair rallies bullishly to start the attempts to breach the key resistance at 0.7495, which represents the neckline of the double bottom pattern that appears on chart, thus, confirming the breach will provide strong positive motive that has the ability to push the price to target areas that start at 0.7595 and extend to 0.7680.

Therefore, the bullish trend will remain valid and active in the upcoming sessions unless breaking 0.7400 level and holding below it.

Expected trading range for today is between 0.7400 support and 0.7600

Expected trend for today: Bullish