AUDUSD reaches the target – Analysis - 07-11-2018
Economies.com
2018-11-07 05:09AM UTC
The AUDUSD pair resumes its positive trading to reach the thresholds of our first waited target at 0.7277, which represents 23.6% Fibonacci correction level for the decline measured from 0.8113 to 0.7019, which means that breaching it will extend the bullish wave to reach 0.7437 on the near term basis.
The EMA50 supports the price from below, reinforcing the chances of continuing the bullish bias in the upcoming sessions, noting that the continuation of the bullish wave depends on the price stability above 0.7160 and 0.7130 levels.
Expected trading range for today is between 0.7200 support and 0.7320
Expected trend for today: Bullish
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