AUDUSD Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
Price bounced downwards to test key support at 0.6570$
Technical indicators provide mixed signals, suggesting caution
Preference to stay aside until clearer signal for next trend
The AUDUSD price bounced downwards clearly to start testing the key support 0.6570$, hinting heading to decline again, but we notice that the technical indicators provide positive signals that might protect the price from suffer more losses.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking the mentioned support will push the price to continue the decline and head towards 0.6500$ as a next negative target, while consolidating above it will lead the price to recover and visit 0.6640$ again.
Expected Trading Range
Support: 0.6520$
Resistance: 0.6625$
Trend Forecast: Neutral
Origin: Economies
