AUD USD retests again – Analysis - 22/08/2014
Economies.com
2014-08-22 05:26AM UTC
The AUDUSD pair trades positively since yesterday to approach from retesting 0.9330 again, accompanied by stochastic entering the overbought area, which supports the continuation of the bearish correctional trend that mainly depend on holding below 0.9330, waiting to test 0.9200-0.9180 levels mainly.
It’s important to note that breaching 0.9330 level and holding above it will open the way to regain the main bullish trend again, with targets that mainly begin at 0.9525.
Expected trading range for today is between: 0.9180 support and 0.9400 resistance.
Expected trend for today: Bearish
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