AUDUSD needs the positive momentum – Analysis - 21-07-2017

The AUDUSD pair shows sideways trading since yesterday settling around 0.7940 level, as the price is affected by stochastic negativity that blocks the continuation of the recently suggested positive scenario, which might force the price to provide more sideways trading until it gets enough positive momentum to push the price to continue the rise.

In general, we will continue to suggest the bullish trend as long as the price holds above 0.7830, noting that breaching 0.8000 level will confirm extending the bullish wave to reach 0.8115 as a next main station.

Expected trading range for today is between 0.7830 support and 0.8050

Expected trend for today: Bullish