AUDUSD approaches the target – Analysis - 20-11-2017

The AUDUSD pair keeps declining to reach the thresholds of the waited target at 0.7516, as the bearish channel continues to push the price to achieve more decline, supported by the negative pressure coming by the EMA50, which supports the chances of breaking the mentioned level and extend the bearish wave towards 0.7415 areas on the near term basis.

Therefore, we believe that the bearish trendw ill remain dominant in the upcoming sessions, noting that holding below 0.7633 represents the first protecting factor to the continuation of the suggested negative scenario.

Expected trading range for today is between 0.7450 support and 0.7633

Expected trend for today: Bearish