The AUDUSD pair tests the main bearish channel’s resistance level now, and it needs to settle below this level to keep the chances valid to resume the overall bearish trend, pointing that stochastic shows overbought signals now to reinforce the negative expectations.
Therefore, we are waiting for targeting 0.6935 then 0.6870 levels initially, unless witnessing a breach and stability with a daily close above 0.7075.
Expected trading range for today is between 0.6900 support and 0.7100
Expected trend for today: Bearish