The AUDUSD pair continues to fluctuate within sideways track settling below 0.7595 level, noticing that stochastic loses its positive momentum gradually heading towards the overbought areas, to form negative pressure that we are waiting to resume the bearish bias in the upcoming sessions, supported by the EMA50.
Therefore, we will continue to suggest the bearish bias on the intraday and short term basis, and the next target is located at 0.7448, noting that breaching 0.7595 level will stop the expected decline and lead the price to regain its main bullish track again.
Expected trading range for today is between 0.7448 support and 0.7630
Expected trend for today: Bearish
Origin: Economies
