The AUDUSD price managed to touch the main bearish channel’s resistance line, and begins to rebound bearishly to attempt to build bearish wave on the intraday and short-term basis, on its way to achieve negative targets that start at 0.6140$ and extend to 0.6075$.
Note that breaking 0.6200$ will complete forming bearish flag pattern that reinforce the expectations to decline in the upcoming period, while breaching 0.6245$ will stop the bearish trend and lead the price to start bullish correction on the intraday and short-term basis.
The expected trading range for today is between 0.6160$ support and 0.6260$ resistance
Trend forecast: Bearish
Origin: Economies
