AUDUSD still stuck – Analysis - 10/02/2016

The AUDUSD pair attempted to break 0.7016 level but without settling below it, to keep trading stuck between the trend keys represented by the mentioned support and 0.7160 resistance, and as we mentioned in our last reports, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

We remind you that breaching 0.7160 level represents the key to regain the main bullish trend, and the positive targets begin at 0.7324 and extend to 0.7459, while breaking 0.7016 will put the price under negative pressure that targets 0.6943 followed by 0.6825 levels on the near term basis.

Expected trading range for today is between 0.6900 support and 0.7160

Expected trend for today: Neutral