The AUDUSD pair surpassed the bearish channel’s resistance and settled above it, but we notice that stochastic shows clear negative signals on the four hours’ time frame, waiting to motivate the price to resume the main bearish trend that its targets begin by breaking 0.7225 to open the way to head towards 0.7100.
Note that the continuation of the bearish wave depends on the price stability below 0.7375, as breaching it will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 0.7225 support and 0.7350 resistance
The expected trend for today: Overall bearish
Origin: Economies
