Expected Scenario: Bearish Momentum
The AUDUSD price failed to sustain below the $0.6500 level for an extended period, exhibiting temporary positive trades and hovering around $0.6510$. However, the EMA50 continues to exert negative pressure on the price, supporting the likelihood of a continued bearish wave in the near future, with targets at $0.6450 followed by $0.6410.
Stochastic is showing signs of losing positive momentum, further supporting the expected decline, which remains valid unless the price rallies to breach $0.6570 and holds above it.
Expected Trading Range for Today
Support: $0.6460
Resistance: $0.6550
Trend Forecast: Bearish
Origin: Economies
