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AUDUSD tests the initial resistance – Analysis - 12-12-2017
The AUDUSD pair tested the first resistance 0.7545 and keeps its stability below it, accompanied by witnessing negative overlapping signal through stochastic now, which forms negative motive that we are waiting to push the price to resume the main bearish trend, and the price needs to break 0.7516 level to confirm the continuation of the bearish bias in the upcoming sessions.
Therefore, the bearish trend will remain expected on the intraday and short term basis conditioned by holding below 0.7545 and 0.7575 levels, noting that our next main target is located at 0.7415.
Expected trading range for today is between 0.7430 support and 0.7575
Expected trend for today: Bearish
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