The AUDUSD pair traded positively yesterday to settle at 0.7375 again, accompanied by stochastic loss to the positive momentum and reaching the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, which its next target located at 0.7230.
The EMA50 supports the expected decline, reminding you that breaching 0.7375 will lead the price to achieve intraday gains that target testing 0.7450 areas initially.
The expected trading range for today is between 0.7310 support and 0.7420 resistance
The expected trend for today: Bearish