The AUDUSD pair succeeded to achieve our waited target at 0.6550 and surpassed it to close the daily candlestick below it, opening the way to continue the decline and head towards our next negative targets that start at 0.6460 and extend to 0.6400.
The negative effect of the head and shoulders’ pattern still active, and supports the expectations of continuing the bearish trend domination in the upcoming sessions, noting that breaching 0.6550 and holding above it will push the price to attempt to build bullish wave and recover on the intraday basis.
The expected trading range for today is between 0.6460 support and 0.6570 resistance
The expected trend for today: Bearish
Origin: Economies
