The AUDUSD price achieved clear rises yesterday to breach 0.6500$ and settles above it, but we notice that the rise stopped at the bearish channel’s resistance line that appears on the chart, and the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly.
Therefore, these factors encourage us to suggest the decline in the upcoming sessions, and the targets begin by breaking 0.6500$ to open the way to head towards 0.6410$, noting that breaching 0.6530$ will lead the price to achieve additional gains that reach 0.6570$ followed by 0.6640$.
The expected trading range for today is between 0.6450$ support and 0.6550$ resistance
Trend forecast: Bearish
Origin: Economies
