AUDUSD faces negative pressure – Analysis - 19-02-2018

The AUDUSD pair provide negative trades on last Friday to move below 0.7936 level, but we notice that the EMA50 formed good support to protect the price from suffering more losses, accompanied by witnessing clear positive signals through stochastic.

Therefore, we believe that the chances are valid to resume the bullish trend in the upcoming sessions, and the price needs to breach 0.7936 level to ease the mission of heading towards our positive targets that start at 0.8000 and extend to 0.8124, noting that breaking 0.7900 will push the price to test 0.7820 areas before any new attempt to rise.

Expected trading range for today is between 0.7850 support and 0.8000

Expected trend for today: Bullish