AUDUSD resumes rising – Analysis - 16-02-2017

The AUDUSD pair rallied higher strongly yesterday to surpass 0.7700 barrier and settles above it, which supports the continuation of our bullish trend expectations efficiently in the upcoming period, easing the way towards our main target at 0.7833.

Therefore, we wait for more of the upside moves on the intraday and short term basis, supported by the EMA50 that keeps carrying the price from below, pointing that the continuation of the bullish trend depend on the stability above 0.7655 and the most important above 0.7595.

Expected trading range for today is between 0.7655 support and 0.7833

Expected trend for today: Bullish