The AUDUSD price provided new negative trades to reach the bearish channel’s support line that appears on the chart, and we suggest the continuation of the decline to achieve new negative targets that reach 0.6420$, supported by the negative pressure formed by the EMA50.
Holding below 0.6535$ is important to the continuation of the expected decline, as breaching it will lead the price to achieve intraday gains that reach the bearish channel’s resistance line around 0.6635$ before any new attempt to decline.
The expected trading range for today is between 0.6410$ support and 0.6610$ resistance
Trend forecast: Bearish
Origin: Economies
