The AUDUSD pair shows some bearish bias to test the EMA50 that meets 0.6520 support line, noticing that stochastic gets rid of its negative momentum to reach the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which its first target located at 0.6570.
On the other hand, we should note that breaking 0.6500 will reactivate the negative effect of the head and shoulders’ pattern that appears on the chart and push the price to decline again.
The expected trading range for today is between 0.6480 support and 0.6580 resistance
The expected trend for today: Bullish
Origin: Economies
