The AUDUSD confirms the break – Analysis - 21-09-2022

The AUDUSD pair managed to confirm breaking 0.6700 level, as it closed the daily candlestick below it, opening today with new decline to move away from this level, reinforcing the expectations of continuing the bearish trend, which targets 0.6610 as a next station.

The negative effect of the previously completed head and shoulders’ pattern, and supports the chances of suffering more losses on the intraday and short term basis, noting that breaching 0.6700 might push the price to achieve intraday gains and test 0.6775 areas before attempting to decline again.

The expected trading range for today is between 0.6600 support and 0.6720 resistance

The expected trend for today: Bearish