The AUDUSD price continued to rise yesterday to test the bearish channel’s resistance line, noticing that the price bounced downwards clearly from there, to keep the bearish trend valid and active for the upcoming period, noting that our targets start at 0.6355$ and extend to 0.6300$.
Therefore, we are waiting for more decline on the intraday basis and short-term basis, supported by the negative signals provided by the technical indicators, noting that breaching 0.6460$ will stop the bearish wave and lead the price to start bullish correction on the intraday basis.
The expected trading range for today is between 0.6340$ support and 0.6440$ resistance
Trend forecast: Bearish
Origin: Economies
