The AUD/USD pair kept declining until reaching 0.6550, with the pair already piercing and settling below that level yesterday, opening the door for more losses towards new negative targets that stretch to 0.6400.
Thus we expect more downward trending in upcoming sessions, bolstered by negative pressure from the 50 SMA, however we note that piercing 0.6550 and settling above it will stymie the suggested decline and lead the pair to a recovery of recent losses.
Expected trading range for today is between the 0.6460 support and the 0.6580 resistance.
Expected trend for today: Bearish
Origin: Economies
