Midday update for AUD USD 05/10/2015

Economies.com
2015-10-05 11:04AM UTC

The AUDUSD pair closed the four hours time frame above 0.7085 level, confirming breaching it, which stop the morning suggested negative scenario and pushes the price to turn to the upside, where the price complete drawing bullish technical pattern that we believe it has positive targets that reach to 0.7200 initially.

 

Therefore, the bullish bias will be preferred for the rest of the day unless breaking 0.7050 level and holding with a daily close below it.

 

Expected trading range for today is between 0.7000 support and 0.7230

 

Expected trend for today: Bullish

 

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