The AUDUSD begins positively – Analysis - 01-12-2021

The AUDUSD pair bounced higher after approaching from our waited target at 0.7050, and opens today’s trading with more of the upside moves to test the critical resistance at 0.7170, which requires being aware from the upcoming trading, where the price needs to settle below this level to keep the bearish trend valid in the upcoming period, which organizes within the bearish channel that appears in the image, pointing that the next target reaches to 0.7000.

On the other hand, you should be aware that breaching 0.7170 will stop the suggested negative scenario and leads the price to begin a bullish correctional wave.

The expected trading range for today is between 0.7100 support and 0.7200 resistance

The expected trend for today: Bearish