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The AUDUSD tests the resistance – Analysis - 02-05-2023
The AUDUSD pair traded positively yesterday to test the key resistance 0.6665, noticing that the price keeps its stability below it, waiting to rebound bearishly to resume the correctional bearish wave, which targets 0.6550 level as a next station.
The EMA50 supports the expected decline, while breaching 0.6665 followed by 0.6715 levels will stop the expected decline and push the price to recover on the intraday and short term basis.
The expected trading range for today is between 0.6570 support and 0.6665 resistance
The expected trend for today: Bearish
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