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Aussie gives in to negative pressure - Analysis - 02-08-2023
The AUD/USD pair fell after touching the resistance of the 50-day SMA in early trading yesterday, forcing the pair down and extending the losses in early trading today, amid the dominance of the downward correctional short-term trend, with negative signals from the RSI.
Therefore we expect more losses for the pair, targeting the support of 0.6525, provided it settles below the resistance of 0.6740.
Expected trading range for today is between the 0.6640 support and the 0.6750 resistance.
Expected trend for today: Bearish
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