The AUDUSD approaches the first target – Analysis - 10-01-2022

The AUDUSD pair reached few pips away from our first waited target at 0.7125 and bounced bullishly to test the key resistance 0.7205, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly.

Therefore, we believe that the chances valid to resume the bearish trend, which targets 0.7125 followed by 0.7000 levels as next main stations, while achieving them requires holding below 0.7205.

The expected trading range for today is between 0.7120 support and 0.7240 resistance

The expected trend for today: Bearish