AUDUSD loses momentum – Analysis - 01-05-2017

The AUDUSD pair fluctuates within sideways track in the past sessions settling near 0.7451 level, waiting to break this level to confirm the continuation of the bearish trend, which its next target located at 0.7383, noting that stochastic loses its bullish momentum to reach the overbought areas, while the EMA50 continues to form negative pressure on the price.

Therefore, these factors support the chances of achieving the required break and resume the expected bearish trend, reminding you that the continuation of the bearish trend depends on holding below 0.7519.

Expected trading range for today is between 0.7383 support and 0.7550

Expected trend for today: Bearish