The AUDUSD pair trades with slight negativity after approaching from the bearish channel’s resistance that appears on chart, noticing that the EMA50 continues to push negatively on the price and protect trading inside the mentioned channel, which encourages us to continue suggesting the bearish trend for the upcoming period, which its main targets begin at 0.7000 then 0.6800.
Stochastic positivity interprets the reasons of the current sideways fluctuation, noting that the continuation of the suggested bearish trend depends on holding below 0.7210 level.
Expected trading range for today is between 0.7035 support and 0.7210
Expected trend for today: Bearish