The AUDUSD pair traded with clear positivity on last Friday’s evening to test the resistance line that appears on the chart, met by the EMA50 to add more strength to this resistance, accompanied by stochastic losing the positive momentum clearly.
Therefore, we believe that the chances are valid to rebound bearishly and resume the main bearish trend, which its next main target located at 0.7000, while holding below 0.7110 represents initial condition to achieve the waited targets.
Expected trading range for today is between 0.7000 support and 0.7150
Expected trend for today: Bearish