AUIDUSD analysis


Technical reviews

The Australian dollar against the US dollar pair crossed the resistance of the descending channel and settled above it, but we notice that the stochastic indicator is showing clear negative signs on the four-hour time frame, waiting to motivate the price to resume the main bearish trend whose targets begin with breaking 0.7225 to open the way towards heading towards 0.7100.


We point out that the continuation of the bearish wave depends on stability below 0.7375, as breaching it will stop the negative scenario and lead the price to move to the upside.


The expected trading range for today is between the support 0.7225 and the resistance 0.7350


Expected general trend for today: overall bearish

Author: GC
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