The AUDUSD pair succeeded to reach our first waited target at 0.7615, which represents 38.2% Fibonacci correction level for the rise from 0.6987 to 0.8007, noticing that the price faces negative pressure coming by the EMA50 and stochastic, which support the chances of surpassing the mentioned level to open the way to head towards the next correctional station at 0.7450.
Therefore, the bearish trend will remain suggested for the upcoming period unless the price rallied to breach 0.7765 – 0.7785 levels and hold above them.
The expected trading range for today is between 0.7620 support and 0.7765 resistance
The expected trend for today: Bearish
Origin: Economies
