The AUDUSD price rebounds bearishly – Forecast today - 22-03-2024

The AUDUSD price bounced downwards clearly after reaching 0.6640$ level, to test 0.6570 and settle around it, facing contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend, to monitor the price behavior according to the last level that represents important key to detect the next targets.

Note that consolidating above 0.6570 will lead the price to recover again and test 0.6640$ initially, while breaking it will push the price to achieve additional decline that its next target reaches 0.6500$.

The expected trading range for today is between 0.6510$ support and 0.6620$ resistance

Trend forecast: Neutral