AUDUSD analysis 10.08.2020

The Australian dollar against the US dollar faced negative pressure in the past sessions to move around the EMA 50, noting that recent trades are confined within an intraday bullish channel that appears in the image, and the stochastic oscillator begins to cross positively now, to stimulate the price to try to return to rise again and return to the channel Main ascending.

From here, we expect to witness positive trading during the upcoming sessions, provided that the price maintains stability above 0.7125, noting that the next main target reaches 0.7290.

The expected trading range for today is between 0.7100 support and 0.7240 resistance.

The expected general trend for today: Bullish.