The AUDUSD price faces solid support – Forecast today - 17-04-2024

AUDUSD Price Analysis

Expected Scenario

• The AUDUSD price has initiated positive trades at today's open, aiming to breach the 0.6410$ level, influenced by stochastic positivity.
• However, we will rely on yesterday's close below this level to continue suggesting a bearish trend for the upcoming period, primarily targeting 0.6340$ areas.
• Therefore, we anticipate negative trades in the upcoming period, with consolidation above 0.6410$ potentially leading to an intraday bullish wave, targeting the next main level at 0.6500$.

Expected Trading Range

Between 0.6360$ support and 0.6460$ resistance.