AUD Analysis 21.10.2019

AUDUSD holds steady above the resistance of the breached descending channel (red dotted), and starts today with a fresh bullish slope on its way to continue the expected rally for the coming period, keeping the bullish correction scenario intact over intraday and short term, targeting 0.7015 as the first stop.

Therefore, we will continue to favor the bullishness for today unless it breaks the 0.6800 level and holds below it.

Expected trading range for today is between 0.6820 support and 0.6920 resistance.

Expected trend for today: Bullish.