Forex

The AUDUSD achieves slight gains – Analysis - 23-10-2020

2020-10-23 04:02:50 GMT (Economies.com)

The AUDUSD pair provided slight positive trades to move above 0.7100, approaching the correctional bearish channel’s resistance that appears on the chart, noticing that stochastic returns to the overbought areas, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 0.6964 level mainly.

 

On the other hand, we should note that breaching 0.7185 will stop the expected decline and leads the price to resume the main bullish trend again.

 

The expected trading range for today is between 0.7050 support and 0.7180

 

The expected trend for today: Bearish

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