The AUDUSD tests the resistance – Analysis - 12-09-2019

The AUDUSD pair continues to fluctuate at the bearish channel’s resistance at 0.6885, and the price still stuck between the trend confirmation levels represented by the mentioned resistance and 0.6830 support, which makes us continue with our neutrality until the price confirms surpassing one of these levels.

The contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, reminding you that breaching 0.6885 resistance will push the price to achieve more gains and head towards 0.7020 areas on the near term basis, while breaking the support will press on the price to resume the bearish trend within the main bearish channel, to head towards 0.6720 as a first main station.

The expected trading range for today is between 0.6830 support and 0.6920

The expected trend for today: Neutral