AUDUSD reaches the first target – Analysis - 23-04-2018

The AUDUSD pair reached our first waited target at 0.7650 and settles near it, noticing that stochastic shows clear oversold signals, to push the price to provide some temporary positive trading before declining again.

The price move inside the bearish channel that appears on the chart supports the chances of breaking the above mentioned support line followed by extending the bearish wave on the short term basis to target 0.7500 as a next station, thus, the bearish trend will be suggested in the upcoming sessions unless the price managed to breach 0.7743 level and hold above it.

Expected trading range for today is between 0.7600 support and 0.7740

Expected trend for today: Bearish