Midday update for the AUDUSD 02-08-2022

9 months ago

The AUDUSD pair faced strong negative pressure to break 0.6980 level to approach 0.6910 level, to hint heading to turn to decline, noting that breaking the last level will push the price to achieve more decline and stop the recent bullish correction, while breaching 0.6980 represents the key to resume the bullish wave again.


Therefore, we prefer to stay aside until the price confirms breaking 0.6910 support or breaching 0.6980 resistance to detect its next destination clearly.


The expected trading range for today is between 0.6870 support and 0.7000 resistance


The expected trend for today: Neutral

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