AUD Analysis 13.09.2019

AUDUSD continues to fluctuate at the resistance of the descending channel, and faces a contradiction between the positivity of the move above SMA 50 and the negativity of the stochastic, which makes us continue to remain neutral until we get a clearer signal for the next trend, which we will get by breaching 0.6885 resistance or breaking Support 0.6830.

The breach of the mentioned resistance will push the pair out of the descending channel and start a bullish correction that starts at 0.7020, while a break of support will press the price to continue the main bearish trend with the next target at 0.6670.

Expected trading range for today is between 0.6830 support and 0.6920 resistance.

Expected trend for today: Neutral.