The AUDUSD pair approached from testing 0.7400 barrier yesterday, showing bearish bias in attempt to return below 0.7330, as we notice that stochastic shows negative signals on the four hours’ time frame, which supports the expectations of resuming the correctional bearish trend, which its next target located at 0.7210.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions supported by the EMA50, reminding you that breaching 0.7448 will stop the expected decline and lead the price to attempt to regain the main bullish trend.
Expected trading range for today is between 0.7210 support and 0.7448
Expected trend for today: Bearish
Origin: Economies
