The AUDUSD pair keeps its stability below the bullish channel’s support line, noticing that stochastic loses its positive momentum clearly, while the EMA50 forms negative pressure against the price.
Therefore, we believe that the chances are valid to resume the expected bearish trend on the intraday and short term basis, which targets 0.7080 followed by 0.7020 levels mainly, while holding below 0.7277 represents key condition to achieve the suggested targets.
Expected trading range for today is between 0.7140 support and 0.7277
Expected trend for today: Bearish