AUDUSD gathers the positive momentum – Analysis - 23-02-2017

The AUDUSD pair fluctuates in sideways track keeping its stability above the EMA50 that forms a good intraday support that protect the price from moving lower, and the price begins to provide positive trading now, as a signal for the attempt to resume the main bullish trend in the upcoming sessions, waiting for breaching 0.7690 level to reinforce the expectations for achieving more of the upside moves.

Therefore, our bullish trend expectations will remain valid on the intraday and short term basis conditioned by holding above 0.7595 level, supported by stochastic head to the oversold levels gradually, pointing that the expected main target located at 0.7833.

Expected trading range for today is between 0.7600 support and 0.7833

Expected trend for today: Bullish