The AUDUSD pair begins today’s trading with clear bearish bias to start pushing on 0.7330 level, and as we mentioned in our last report, the price needs to break this level to confirm the continuation of the bearish wave towards our next target at 0.7210.
Therefore, our bearish overview will remain valid and active for the upcoming period, supported by the negative pressure offered by the EMA50 besides stochastic negativity that appears on the four hours’ time frame, reminding you that holding below 0.7448 represents the most important condition to continue the expected decline.
Expected trading range for today is between 0.7210 support and 0.7400
Expected trend for today: Bearish
Origin: Economies
