AUDUSD tests the moving average – Analysis - 22-03-2017

The AUDUSD pair bounced bearishly after testing 0.7739 level yesterday, noticing that the EMA50 forms good support that stopped the price decline, to begin providing positive signals now that reinforces the chances for resuming the bullish bias, especially that stochastic moves in the oversold levels now.

Therefore, we believe that the chances available to trade positively in the upcoming sessions, and the targets begin by breaching 0.7739 level to confirm the extension of the bullish wave to 0.7900, reminding you that holding above 0.7604 represents an important condition for achieving the suggested targets.

Expected trading range for today is between 0.7600 support and 0.7780

Expected trend for today: Bullish