The AUDUSD pair bounced donwards clearly after testing the bearish channel’s resistance that appears on the chart, to reactivate the bearish trend scenario that targets 0.7300 followed by 0.7230 levels as next negative stations.
Therefore, the bearish bias will be expected for today supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 0.7400.
The expected trading range for today is between 0.7260 support and 0.7380 resistance
The expected trend for today: Bearish
Origin: Economies
