The AUDUSD under the negative pressure – Analysis - 04-03-2021
Economies.com
2021-03-04 05:15AM UTC
The AUDUSD pair bounced downwards clearly to start pressing on the main bullish channel’s support line, which hints the price head to start correctional bearish wave supported by the negative pressure formed by the EMA50, but we need to break 0.7755 to confirm the continuation of the decline.
Therefore, we prefer staying aside until we get clearer signal for the next trend, noting that breaking 0.7755 will push the price to visit 0.7620 as a first negative target, while breaching 0.7835 represents the key to resume the main bullish trend that its targets begin at 0.7900 and extend to 0.8000.
The expected trading range for today is between 0.7720 support and 0.7910 resistance
The expected trend for today: Neutral
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