AUDUSD faces negative pressure – Analysis - 09-11-2018

The AUDUSD pair could not manage to hold for long time above 0.7277 level, to trade with clear negativity on yesterday’s evening and approaches the key support 0.7230, and it might keep declining to test the intraday bullish channel’s support line that appears on the chart at 0.7180 before turning back to rise again.

The EMA50 keeps supporting the price from below, while stochastic shows oversold signals now, thus, these factors encourage us to keep our bullish overview in the upcoming period, which targets 0.7437 areas mainly, while holding above 0.7180 represents key condition to continue the suggested rise.

Expected trading range for today is between 0.7180 support and 0.7300

Expected trend for today: Bullish