The AUDUSD pair opens today’s trading with strong negativity to break 0.7415 level and attempt to hold below it, which supports the continuation of the bearish wave on the short term basis, opening the way to test 0.7330 level as a next main station, noting that breaking this level will extend the bearish wave to reach 0.7210.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, supported by the negative pressure offered by the EMA50, noting that the continuation of the bearish wave depends on holding below 0.7595 level.
Expected trading range for today is between 0.7250 support and 0.7475
Expected trend for today: Bearish
Origin: Economies
