The AUDUSD pair ended yesterday with strong negativity to break 0.6500 and settle below it, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that we expect to push the price to achieve negative targets that surpass 0.6410 to reach 0.6270 on the near term basis.
Therefore, the bearish bias will be expected for the upcoming sessions, supported by the EMA50 that presses negatively on the price, noting that breaching 0.6500 will stop the expected decline and lead the price to attempt to recover again.
The expected trading range for today is between 0.6400 support and 0.6500 resistance
The expected trend for today: Bearish
Origin: Economies
