The AUDUSD approaches the positive target – Analysis - 16-05-2022
Economies.com
2022-05-16 04:10AM UTC
The AUDUSD pair traded positively in the previous session and approached 0.6985 level, but it begins today with clear decline to resume the main bearish trend, motivated by stochastic negativity that appears clearly on the four hours’ time frame, waiting to test 0.6815 initially, noting that breaking this level will push the price to 0.6700 as a next main station.
Therefore, the bearish bias will be expected for today unless breaching 0.6950 and holding above it.
The expected trading range for today is between 0.6810 support and 0.6910 resistance
The expected trend for today: Bearish
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