Australian dollar analysis 12.10.2021

The Australian dollar against the US dollar pair succeeded in achieving our awaited target at 0.7360 and is settling near it, and we expect to resume positive attempts to surpass this level and head towards 0.7405 as a next station.

Therefore, the bullish trend will remain valid for the upcoming period, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires stability above 0.7290.

The expected trading range for today is between the support 0.7290 and the resistance 0.7400

The forecast trend for today: bullish