AUDUSD retests – Analysis - 18-08-2017

The AUDUSD pair provided negative trading yesterday to retest the previously breached resistance of the bearish channel that turns into support now at 0.7865, as trading bounced bullishly from the mentioned level, hinting resuming the bullish trend in the upcoming sessions.

Stochastic provides positive overlapping signal now on the four hours' time frame, reinforcing the expectations of rising today, to keep the bullish trend scenario valid and active on the intraday and short term basis conditioned by holding above 0.7800, reminding you that our waited positive targets begin at 0.8000 and extend to 0.8115.

Expected trading range for today is between 0.7830 support and 0.8000

Expected trend for today: Bullish