The AUDUSD pair continues to decline to reach the thresholds of the new waited target at 0.6550, which represents 61.8% Fibonacci correction level for the bullish wave that started from 0.6170 areas, and we suggest surpassing this level to open the way to achieve more negative targets that reach 0.6500 followed by 0.6400, as the price continues to move within the bearish channel that appears on the chart.
Therefore, we are waiting for more expected decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that holding below 0.6665 represents key condition to achieve the suggested targets.
The expected trading range for today is between 0.6500 support and 0.6610 resistance
The expected trend for today: Bearish
Origin: Economies
