The AUDUSD approaches the first negative target – Analysis - 19-05-2022
Economies.com
2022-05-19 04:09AM UTC
The AUDUSD pair approached 0.6930 level, and rebounds upwards clearly by today’s open to head towards potential test to the bearish channel’s resistance around 0.7045, affected by stochastic positivity, and as long as the price is below this level, the main bearish trend scenario will remain valid for the upcoming period, which its next negative target extends to reach 0.6825.
On the other hand, we should note that breaching 0.7045 will push the price out of the bearish channel and push to achieve more intraday bullish correction.
The expected trading range for today is between 0.6940 support and 0.7045 resistance
The expected trend for today: Bearish
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