Midday update for AUDUSD 23-03-2017

The AUDUSD pair broke 0.7645 level and settled below it, which puts the price under temporary negative pressure that might push trading to test 0.7604 level before turning back to rise again, as the price completed forming minor head and shoulders' pattern that appears on chart, while stochastic reaches the oversold areas to support the chances of bouncing bullishly and resume the bullish trend again.

In general, we will continue to suggest the overall bullish trend unless breaking 0.7604 level and holding below it, noting that breaching 0.7645 will ease the mission of reaching our positive targets that begin at 0.7739 and extend to 0.7900.

Expected trading range for today is between 0.7600 support and 0.7780

Expected trend for today: Bullish