AUDUSD returns to test the support – Analysis - 21-09-2017

Economies.com
2017-09-21 03:45AM UTC

The AUDUSD pair approached from our first waited targe tat 0.8115 yesterday and bounced downwards clearly to settle around the bullish trend line again, affected by stochastic negativity that approaches from the oversold areas now, while the EMA50 forms intraday support to protect the price from achieving more decline.

 

Therefore, we believe that the chances are valid to rebound bullishly and resume the main bullish trend again, noting that breaching 0.8115 will extend the bullish wave to reach 0.8330, while holding above 0.7937 represents the most important condition to continue the expected rise.

 

Expected trading range for today is between 0.7937 support and 0.8115

 

Expected trend for today: Bullish

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