AUDUSD keeps the support base – Analysis - 27-03-2017

The AUDUSD pair settles above the support level at 0.7604, showing positive attempts approaching from the critical resistance at 0.7640, which represents the previously broken neckline of the minor head and shoulders pattern that appears in the image, which means that the price needs to breach this level to get rid of the negative pressure that controlled the last trading.

In general, we keep preferring the bullish trend on the intraday and short term basis unless breaking 0.7604 level and holding below it, pointing that our main waited targets begin at 0.7739 and extend to 0.7900.

Expected trading range for today is between 0.7560 support and 0.7739

Expected trend for today: Bullish