Midday update for AUD USD 06/07/2015
Economies.com
2015-07-06 10:34AM UTC
The AUDUSD pair shows sideways trading since morning keeping its stability below 0.7560 level, which keeps the bearish bias valid until now, noticing that stochastic loses its bullish momentum gradually to support the chances of bouncing bearishly and resume the expected bearish trend.
Our next target is located at 0.7415, noting that breaking this level will extend the pair’s losses to reach 0.7100 areas.
Expected trading range for today is between 0.7350 support and 0.7560
Expected trend for today: Bearish
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