AUDUSD negotiates the key levels – Analysis - 11/02/2016

The AUDUSD pair approached from testing the key resistance 0.7160 yesterday, showing some bearish bias affected by stochastic negativity, to keep trading confined between the next trend keys represented by the mentioned resistance and 0.7016 support, which makes us continue with our neutrality until now, in order to monitor the price behavior according to the mentioned levels.

We remind you that breaching 0.7160 level will lead the price to regain its main bullish trend that its targets begin at 0.7324 and extend to 0.7460, while breaking 0.7016 support represents negative factor that will push the price to test 0.6943 followed by 0.6825 areas on the near term basis.

Expected trading range for today is between 0.6943 support and 0.7206

Expected trend for today: Neutral