The AUDUSD pair bounced strongly downwards after the price tested the key resistance level at 0.8895, as the EMA50 formed solid resistance barrier that forced the price to decline, to retest the previously breached Diamond pattern that appears on image.
Until now, we still believe that the chances are valid to regain the bullish trend, and the main condition is holding above 0.8660 level, as breaking this level will push the price to turn its track to the downside, followed by targeting areas that reach to 0.8400, noting that our main targets begin by breaching 0.8895 to open the way towards 0.9040 followed by 0.9165.
Expected trading range for today is between: 0.8700 support and 0.8895 resistance.
Expected trend for today: Bullish