The AUDUSD breaks the support – Analysis - 03-05-2021
The AUDUSD pair broke 0.7765 level strongly and settled below it, to hints potential return to the correctional bearish track, supported by moving below the EMA50, but stochastic provides positive signals that might push the price to rise again.
Therefore, we prefer staying neutral until we get clearer signal for the next trend, noting that the continuation to decline and breaking 0.7650 followed by 0.7615 levels will confirm more decline and head towards 0.7500 as a next negative target, while breaching 0.7765 will reactivate the main positive scenario and lead the price to head towards 0.7835 followed by 0.7900 levels mainly.
The expected trading range for today is between 0.7650 support and 0.7800 resistance
The expected trend for today: Neutral
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