The AUDUSD price keeps its positive stability – Forecast today - 08-04-2024

AUDUSD Price Analysis

Expected Scenario

• The AUDUSD price attempted to break the 0.6570$ level, but it ended last Friday above it, keeping the bullish trend scenario active for the upcoming period. This is supported by the EMA50 carrying the price from below, along with current positive stochastic indicators.
• Our main awaited target reaches 0.6640$, noting that breaking 0.6570$ will halt the expected rise and push the price into a decline.

Expected Outcome

The AUDUSD price remains bullish, with last Friday's close above the 0.6570$ level. Supported by the EMA50 and positive stochastic indicators, the bullish trend scenario remains active, targeting 0.6640$. However, breaking below 0.6570$ would indicate a reversal of the expected rise and initiate a decline.

Expected Trading Range

Between 0.6530$ support and 0.6640$ resistance.