Midday update for the AUDUSD 17-08-2021

Brent oil price shows new negative trades in attempt to head towards our first waited target at 67.70, falling under continuous negative pressure coming by the EMA50, to keep the bearish trend valid and active for today, which depends on the price stability below 69.65, while its targets extend to 66.00 after surpassing the first target.

Crude oil price resumes its negative trading to move away from 67.45 level, reinforcing the expectations of continuing the bearish trend, and the way is open to achieve our next waited target at 65.20, noting that breaking it will extend the bearish wave to reach 61.55, while achieving it requires holding below 67.45 and the most important below 68.40.

Silver price keeps its stability above 23.75, to keep the bullish trend active for today, waiting to breach 23.90 to reinforce the chances of rallying towards our waited positive target at 24.75, which achieving it conditions holding above 23.75.