The AUDUSD presses on the support – Analysis - 17-09-2020

The AUDUSD pair trades negatively to press on the bullish channel’s support line that appears on the chart, which urges caution from the upcoming trading, as confirming breaking this level at 0.7275 will stop the recently suggested positive scenario and press on the price to start bearish correction that its main targets begin at 0.6964, while consolidating above it will push the price to resume the rise and visit 0.7413 level initially.

Therefore, we prefer staying aside temporarily until the price confirms its situation according to 0.7275 level followed by detecting the next destination clearly.

The expected trading range for today is between 0.7200 support and 0.7350

The expected trend for today: Neutral