Price Analysis for AUDUSD
Expected Scenario
The AUDUSD price faces temporary negative pressure to approach retesting the neckline of the inverted head and shoulders’ pattern that appears on the chart, which forms key support at 0.6640$, noticing that the EMA50 meets this support to add more strength to it, while stochastic gains the positive momentum and begin to overlap positively now.
Therefore, we believe that the chances valid to resume the bullish trend in the upcoming sessions, and the targets begin at 0.6728$ and extend to 0.6800$, noting that breaking 0.6640$ will stop the expected rise and push the price to turn to decline.
Expected Trading Range
Between 0.6620$ support and 0.6720$ resistance
Trend Forecast: Bullish
Origin: Economies
