AUDUSD loses momentum – Analysis - 16-08-2018
Economies.com
2018-08-16 04:37AM UTC
The AUDUSD pair begins today’s trading with bullish bias on its way for a potential test to the key resistance 0.7310, accompanied by stochastic loss to the positive momentum and reach the overbought areas, which supports the chances of bouncing bearishly to resume the overall bearish trend, organized inside the bearish channel that appears on the chart.
Therefore, we will keep our bearish overview conditioned by the price stability below 0.7310, reminding you that our next target reaches 0.7075.
Expected trading range for today is between 0.7170 support and 0.7310
Expected trend for today: Bearish
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