Midday update for AUDUSD 10-08-2018

The AUDUSD pair continues its strong decline to break 0.7310 level and attempts to hold below it, which hints the price head to activate the bearish trend scenario on the short term basis, and the price needs to get a daily close below the mentioned level to confirm extending the bearish wave towards 0.7200 that represents the next main target.

On the other hand, the price return to settling above 0.7310 will keep the sideways range domination valid on the intraday basis, between the mentioned support and 0.7450 resistance.

Expected trading range for today is between 0.7280 support and 0.7450

Expected trend for today: Sideways