The AUDUSD under the negative pressure – Analysis - 27-07-2022

The AUDUSD pair begins today with clear negativity to break the bullish channel’s support line and press on the key support 0.6910, which hints heading to stop the bullish correction and return to the main bearish track again, which makes us stay aside temporarily until the price confirms breaking the mentioned support or breaching 0.6980 resistance to detect the next targets clearly.

Note that breaking the mentioned support will press on the price to turn to decline and head to visit 0.6825 areas initially, while breaching the resistance will lead the price to achieve additional bullish correction that its next target reaches 0.7050.

The expected trading range for today is between 0.6860 support and 0.6980 resistance

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The expected trend for today: Neutral