The AUDUSD pair continues to fluctuate around the correctional bearish channel’s resistance after the EMA50 formed good resistance barrier that stopped the price recent positive attempts, noticing that stochastic shows negative signals that support the chances of declining in the upcoming sessions.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis unless breaching 0.7604 level and holding above it, reminding you that breaking 0.7519 will confirm extending the bearish wave towards 0.7451 followed by 0.7383.
Expected trading range for today is between 0.7451 support and 0.7640
Expected trend for today: Bearish
Origin: Economies
