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HomeCurrenciesAUDUSD Consolidates in Sideways Movement, Awaiting Bullish Resumption

AUDUSD Consolidates in Sideways Movement, Awaiting Bullish Resumption

The AUDUSD pair has been oscillating within a sideways trajectory since the previous session, with a stable position near 0.6830. The anticipation is for a renewed push in the bullish direction, targeting 0.6925 as the subsequent significant milestone. This projection is supported by the current positive indications from stochastic indicators.

As the bullish trend scenario remains active, it is important to note that breaching the 0.6830 level could prompt the pair to experience a temporary decline. The immediate support level to watch for such a scenario is at 0.6780, preceding any subsequent attempts at a positive move.

The envisaged trading range for today spans between the support at 0.6790 and resistance at 0.6890.

The prevailing trend for today is expected to be bullish.