AUDUSD held on below the level of 0.7600 after a positive attempt to break out yesterday, reinforcing the downward trend for the coming period, which aims to test the pivotal support of 0.7415, while reminding the importance of monitoring the pair’s behavior upon reaching the targeted level, as it represents an important key to determine the next long-term trend.
Conversely, a breach of 0.7600 would stymie the current decline and lead the pair higher again in the short term, with a next main target at 0.8040.
Expected trading range for today is between 0.7350 support and 0.7600
Expected trend for today: Bearish
Origin: Economies
