Midday update for AUDUSD 28-04-2017
Economies.com
2017-04-28 10:59AM UTC
The AUDUSD pair shows some slight bullish bias since morning, noticing that stochastic reaches the overbought areas now, while the negative pressure formed by the EMA50 still valid.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, waiting to break 0.7451 level to confirm opening the way to head towards 0.7383 as a next main station, taking into consideration that breaching 0.7519 will stop the expected decline and lead the price to recover on the short term basis.
Expected trading range for today is between 0.7383 support and 0.7550
Expected trend for today: Bearish
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