The AUDUSD pair ended yesterday’s trading with clear negativity below 0.7600 level, opening today’s trading with more decline that makes us suggest continuing the bearish bias in the upcoming sessions, targeting testing the key support 0.7415, as the price falls under negative pressure offered by stochastic on the daily time frame.
Therefore, the bearish bias will be expected temporarily on the intraday basis, being aware that it is important to monitor the price behavior when reaching the targeted level, waiting to rebound bullishly from there to resume the bullish trend on the short term basis, noting that breaking 0.7415 level will put the price under more negative pressure that will push trading towards 0.7150 as a next main station.
Expected trading range for today is between 0.7400 support and 0.7600
Expected trend for today: Bearish temporarily
Origin: Economies
