The AUDUSD pair bounced downwards strongly to break 0.7230 followed by 0.7130 levels and settles below the last level, to stop yesterday’s suggested positive scenario and head to resume the main bearish trend again, on its way to head towards 0.7000 followed by 0.6970 levels as next main stations.
Therefore, the bearish bias will be suggested for today supported by moving below the EMA50, noting that breaching 0.7130 will lead the price to start new recovery attempts on the intraday basis.
The expected trading range for today is between 0.7050 support and 0.7150 resistance
The expected trend for today: Bearish
Origin: Economies
