Midday update for the NZDUSD 11-05-2021

The AUDUSD pair resumes its positive trading after approaching 0.7810 level this morning, getting clear positive signals through stochastic, waiting for more rise in the upcoming sessions, as our first target is located at 0.7900, while holding above 0.7810 represents key condition to achieve it.

Brent oil price fluctuates at the bullish channel’s support line that appears on the chart, while stochastic gains the positive momentum gradually, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which its next target located at 71.35, while achieving it requires holding above 67.55.

Crude oil price returns to test 64.35 level and still above it until now, and the EMA50 continues to support the price from below, to keep our bullish overview that depends on the price stability above the mentioned support and above 63.35, reminding you that our next main target reaches 67.95.