The AUDUSD pair keeps its consolidation below 0.6665, and the EMA50 meets this resistance to add more strength to it, waiting to resume the negative trades and reactivate the negative effect of the head and shoulders’ pattern followed by rallying to achieve our targets that start at 0.6550 and extend to 0.6460 after surpassing the previous level.
Therefore, the bearish trend will remain valid and active for the upcoming period, noting that breaching 0.6665 will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 0.6570 support and 0.6680 resistance
The expected trend for today: Bearish
Origin: Economies
