The AUDUSD pair surpassed 0.6500 level to retest the broken neckline of the head and shoulders’ pattern that appears on the chart, accompanied by witnessing continuous negative signals through stochastic, while the EMA50 attempts to prevent the price from achieving more rise.
Therefore, we believe that the chances valid to resume the expected bearish trend on the intraday and short-term basis, which its next target located at 0.6410, noting that breaching 0.6520 will stop the negative effect of the mentioned pattern and push the price to start recovery attempts on the intraday and short-term basis.
The expected trading range for today is between 0.6460 support and 0.6565 resistance
The expected trend for today: Bearish
Origin: Economies
