The AUDUSD price attempted to breach 0.6640 but it couldn’t manage to hold above it, to show some bearish bias and head towards retesting the breached neckline of the double bottom pattern at 0.6570, noticing that the EMA50 meets this level to add more strength to it, while stochastic shows clear oversold signals.
Therefore, these signals encourage us to suggest the overall bullish trend for the upcoming period, and the targets begin by breaching 0.6640 to open the way to head towards 0.6728, noting that breaking 0.6570 will stop the expected rise and push the price to return to the bearish track again.
The expected trading range for today is between 0.6570 support and 0.6670 resistance
Trend forecast: Overall bullish
Origin: Economies
