The AUDUSD pair succeeded to touch our first waited target at 0.7020 and settles near it, and the negative effect of the head and shoulders’ pattern still active, besides the negative pressure formed by the EMA50, which supports the chances of breaking the mentioned level to head towards 0.6920 that represents our next target.
Therefore, our bearish overview will remain valid conditioned by the price stability below 0.7120.
Expected trading range for today is between 0.6970 support and 0.7100
Expected trend for today: Bearish