The AUDUSD prepares to decline – Analysis - 10-06-2019

The AUDUSD pair’s rise stopped at the EMA50, and it couldn’t manage to reach 0.7044 level, to show negative signals that support the chances of resuming the main bearish trend and get enough of the rise that it achieved until now, as the EMA50 formed solid resistance barrier against the price, while stochastic shows clear negative signals now.

Therefore, we expect witnessing negative trades in the upcoming sessions, and the targets begin by breaking 0.6945 to confirm rallying towards 0.6860 as a next main station, noting that the continuation of the expected decline depends on the price stability below 0.7044 and 0.7075 levels.

The expected trading range for today is between 0.6920 support and 0.7000

The expected trend for today: Bearish