The AUDUSD pair broke the bullish channel’s support line clearly and settled below it, approaching to complete forming double top pattern that its signs appear on the chart, its confirmation line located at 0.7665, which means that breaking it will confirm starting bearish correction that its targets begin by testing 0.7625 and extend to 0.7505 after surpassing the previous level.
Therefore, the bearish trend will be expected for the upcoming sessions unless the price managed to breach 0.7730 and hold above it.
The expected trading range for today is between 0.7600 support and 0.7730
The expected trend for today: Bearish
Origin: Economies
