The AUDUSD faces solid support – Analysis - 19-01-2021

The AUDUSD pair found solid support at 0.7665, to rebound bearishly and heads towards potential retest to the broken support of the bullish channel that turns into key resistance now at 0.7745, as the price needs to hold below this level to keep the correctional bearish scenario valid for the upcoming period, which targets 0.7625 as a next station.

Stochastic loses its positive momentum to support the continuation of the suggested negative scenario, noting that breaching 0.7745 will push the price back to the main bullish track and achieve positive targets that start by testing 0.7820.

The expected trading range for today is between 0.7640 support and 0.7760

The expected trend for today: Bearish