The AUDUSD pair tests the minor bearish channel’s resistance and keeps its stability below it, noticing that stochastic loses its positive momentum gradually to approach from the overbought areas, while the EMA50 keeps forming negative pressure against the price.
Therefore, these factors keep the bearish trend scenario valid for the upcoming period, which targets testing 0.7830 followed by 0.7770 levels mainly, while holding below 0.7920 represents key condition to continue the expected decline.
Expected trading range for today is between 0.7770 support and 0.7920
Expected trend for today: Bearish
Origin: Economies
