Midday update for the AUDUSD 29-07-2021
Economies.com
2021-07-29 10:02AM UTC
The AUDUSD pair rallies upwards to breach 0.7375 and tests the bearish channel’s resistance that appears on the chart, which makes us prefer staying aside until we get clearer signal for the next trend.
Note that breaching 0.7420 will lead the price to continue the rise and visit 0.7495 as a next positive target, while trading below 0.7375 will reactivate the negative scenario that its next target located at 0.7300.
The expected trading range for today is between 0.7310 support and 0.7440 resistance
The expected trend for today: Neutral
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