AUDUSD breaks the support – Analysis - 23-10-2017

The AUDUSD pair broke 0.7820 level and settled below it, to complete forming bearish pattern that supports the chances of the price return to the correctional bearish track, noticing that the price is organized inside bearish channel that carries trading from the previously recorded top at 0.8125.

Therefore, we believe that the way is open to achieve more decline in the upcoming period, and the next target is represented by testing 0.7727 level, noting that breaching 0.7820 followed by 0.7870 levels will stop the expected bearish bias and push the price to resume the main bullish trend again.

Expected trading range for today is between 0.7727 support and 0.7900

Expected trend for today: Bearish