The AUDUSD pair begins today’s trading with bullish bias to test 0.7600 level, noticing that yesterdays’ closing was below this level, which keeps the bearish trend scenario valid for the upcoming period, which targets testing 0.7415 level mainly.
The EMA50 meets the targeted level to add more strength to it, which urges monitoring the price behavior when reaching it, as holding against the negative pressure represents the key to regain the bullish trend on the short term basis, while breaking it will put the price under more negative pressure that will lead the price towards 0.7240 initially.
Expected trading range for today is between 0.7500 support and 0.7670
Expected trend for today: Bearish
Origin: Economies
