The AUDUSD pair broke the bullish channel’s support line clearly and settled below it, which leads the price to start bearish correction for the rise that started from 0.5509 areas, on its way to head towards 0.6964 as a next main target.
Therefore, the bearish bias will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave depends on the price stability below 0.7320.
The expected trading range for today is between 0.7140 support and 0.7280
The expected trend for today: Bearish
Origin: Economies
