AUDUSD analysis

29.07.2021

Technical reviews

The Australian dollar against the US dollar pair reached the outskirts of the first awaited target at 0.7500 and is under continuous negative pressure formed by the EMA50, to support the chances of breaking this level and opening the way to heading towards 0.7375 as the next main target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, unless the price rushes to breach 0.7615 and stabilize above it.

The expected trading range for today is between the support 0.7460 and the resistance of 0.7570

The forecast general trend for today: Bearish

Author: GC
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