AUDUSD approaches the resistance – Analysis - 08-08-2018

The AUDUSD pair fluctuates near 0.7450 level, which represents the resistance line of the sideways range that dominates the intraday trades, accompanied by witnessing clear negative signals through stochastic, which supports the chances of bouncing bearishly to visit the mentioned range’s support line tat 0.7310.

Therefore, we suggest the continuation of the sideways range domination until the price manages to breach one of the above mentioned levels, reminding you that breaking 0.7310 support will push the price towards 0.7200 direct, while breaching 0.7450 resistance will lead the price to achieve positive targets that begin at 0.7537 and extend to 0.7600.

Expected trading range for today is between 0.7340 support and 0.7500

Expected trend for today: Sideways