AUDUSD still stuck – Analysis - 25-04-2017

The AUDUSD pair keeps moving between the critical levels that represented by 0.7519 support and 0.7604 resistance, and we still waiting for breaching one of these levels to detect the next targets clearly, where breaking the mentioned support will extend the bearish correctional wave to reach 0.7451 then 0.7383 mainly, while breaching the resistance will open the way towards the recorded top at 0.7739.

Therefore, we will keep our neutrality until getting clearer confirmation signal for the trend, pointing that the contradiction between the EMA50 positivity and stochastic negativity provides another reason for the neutrality.

Expected trading range for today is between 0.7450 support and 0.7640

Expected trend for today: Depends on the above mentioned levels