The AUDUSD pair opens today’s trading with clear positivity to reach the bearish channel’s resistance that appears on the chart, which urges caution from the upcoming trading, as continuing the rise and breaching this resistance at 0.6790 will stop the recently suggested negative scenario and lead the price to start correctional bullish wave that its targets begin by visiting 0.6850 areas.
Therefore, we prefer to stay aside until the price confirms its situation according to the mentioned resistance, noting that consolidating against the current bullish rally will press on the price to resume the main bearish trend that its next target located at 0.6700.
The expected trading range for today is between 0.6720 support and 0.6840 resistance
The expected trend for today: Neutral
Origin: Economies
