The AUDUSD pair succeeded to reach the first waited target at 0.7210, which represents 61.8% Fibonacci level for the rise measured from 0.6825 to 0.7833, thus, breaking this level will extend the bearish wave to target the next correctional level at 0.7063.
The EMA50 keeps pushing on the intraday and short term trading, while stochastic overlaps negatively inside the oversold areas, which encourages us to suggest extending the bearish wave in the upcoming sessions, unless breaching 0.7329 followed by 0.7448 levels and holding above them.
Expected trading range for today is between 0.7100 support and 0.7300
Expected trend for today: Bearish
Origin: Economies
