The AUDUSD pair’s trading bounced higher after hitting 61.8% Fibonacci level that appears in the image at 0.8980, that allows the price to head toward retesting 0.9080 level, as long as the price is stable below this level, we believe that the negative pressure will remain valid on the intraday basis, supported by stochastic negativity.
Breaking 0.8980 level will extend the bearish wave to reach 0.8860 areas, while breaching 0.9080 will push the price to attempt to regain the main bullish trend.
Expected trading range for today is between: 0.8900 support and 0.9080 resistance.
Expected trend for today: Bearish