AUDUSD begins positively – Analysis - 09-08-2018

The AUDUSD pair begins today’s trading with bullish bias to test the sideways range’s resistance at 0.7450, and stochastic returns to move at the overbought areas, forming negative factor that we expect to push the price to rebound bearishly and head towards testing the mentioned range’s support at 0.7310.

In general, the sideways bias will remain dominant on the intraday basis until the price manages to breach one of the above mentioned levels, reminding you that breaching the mentioned resistance will push the price to achieve gains that start at 0.7537, while breaking the support will put the price under negative pressure that its main targets begin at 0.7200.

Expected trading range for today is between 0.7360 support and 0.7520

Expected trend for today: Sideways