AUDUSD needs the positive momentum – Analysis - 13-01-2017

The AUDUSD pair affected by stochastic negativity to show some bearish bias that makes the price head to test the support base that formed above 0.7448 level, while the EMA50 keeps providing positive support for the price, which keeps the bullish trend scenario valid and active in the upcoming period conditioned by its stability above 0.7448 level.

Note that the targets of the suggested bullish wave begin at 0.7595 and extend to 0.7833 on the near term basis.

Expected trading range for today is between 0.7400 support and 0.7595

Expected trend for today: Bullish