The AUDUSD pair opens today’s trading with clear negativity affected by the Australian economic data that came our earlier, to begin the attempts of breaching our first target at 0.7680 and attempts to hold below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, as our next extended target is located at 0.7560.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period supported by the EMA50, unless breaching 0.7875 level and holding above it.
Expected trading range for today is between 0.7560 support and 0.7765
Expected trend for today: Bearish