The AUDUSD pair traded with clear positivity yesterday’s evening to head towards potential retest to 0.7448 level, accompanied by stochastic loss to the bullish momentum clearly on the four hours’ time frame, which supports the chances of bouncing bearishly to resume the correctional bearish track on the short term basis, especially that the EMA50 meets the mentioned level to add more strength to it.
Therefore, the overall bearish trend will remain valid for the upcoming period unless breaching 0.7448 and holding above it, noting that the expected targets begin at 0.7329 and extend to 0.7210 after breaking the previous level.
Expected trading range for today is between 0.7250 support and 0.7448
Expected trend for today: Overall Bearish
Origin: Economies
