AUD Analysis 14.10.2019

AUDUSD is reaching the resistance of the descending channel shown, waiting for a bounce back to resume trading within this channel, where the SMA constitutes 50 negative pressure to support the continuation of the main bearish trend, while Stochastic is showing overbought now.

Therefore, we believe that chances are available for negative trading during the coming sessions, noting that the next main target is 0.6595, while stability below 0.6825 is an important condition to achieve.

Expected trading range for today is between 0.6700 support and 0.6830 resistance

Expected trend for today: Bearish