AUDUSD Price Analysis
Expected Scenario
The AUDUSD price keeps rising to reach the key resistance 0.6640$, and by taking a deeper look at the chart, we find that the price is forming inverted head and shoulders’ pattern that its confirmation line meets this resistance, to hint heading to rise in the upcoming sessions and stop the recently suggested negative scenario.
Therefore, we expect to witness more rise on the intraday and short-term basis, and breaching 0.6640$ will confirm rallying towards 0.6728$ followed by 0.6800$ levels as next positive stations, taking into consideration that breaking 0.6570$ will stop the positive scenario and push the price to turn to decline.
Expected Trading Range
Between 0.6600$ support and 0.6700$ resistance.
Trend Forecast: Bullish
Origin: Economies
