AUDUSD faces solid resistance – Analysis - 21-03-2017

The AUDUSD pair bounced bearishly after facing solid resistance at 0.7739, which might push the price to provide some temporary negative trading before turning back to attempt to breach the mentioned level, as stochastic gets rid of its negative momentum clearly to reach the oversold areas, reinforcing the chances of resuming the bullish bias in the upcoming period.

In general, we will continue to suggest the overall bullish trend unless breaking 0.7604 level and holding below it, reminding you that breaching 0.7739 will confirm opening the way to head towards our next main target at 0.7900.

Expected trading range for today is between 0.7630 support and 0.7820

Expected trend for today: Bullish