The AUDUSD turns to rise – Analysis - 04-04-2023

The AUDUSD pair rallied upwards strongly yesterday after failing to break 0.6665 level, to touch 0.6780 level and attempts to breach it, to hint heading to regain the main bullish trend and stop the bearish correction that dominates the recent trades, as it formed double bottom pattern that has positive targets that reach 0.6920 areas.

Therefore, the bullish bias will be expected for the upcoming period, it might be preceded by the temporary sideways fluctuation around the current areas affected by stochastic negativity, noting that failing to breach 0.6780 will force the price to decline again and head towards testing 0.6665 level before determining the next trend clearly.

The expected trading range for today is between 0.6720 support and 0.6850 resistance

The expected trend for today: Bullish