The AUDUSD price faces solid support – Forecast today - 09-05-2024
Economies.com
2024-05-09 03:41AM UTC
AUDUSD Price Analysis
Forecasts and Analysis
- The AUDUSD price finds solid support around the 0.6570$ level and continues to fluctuate around it.
- Stochastic loses positive momentum, indicating potential resumption of negative trades to break the mentioned level and target 0.6500$ as the next negative station.
- We suggest a bearish trend for the upcoming period, with the possibility of price recovery and a visit to 0.6640$ as the first positive target if 0.6570$ level holds against negative attempts.
Expected Trading Range
The expected trading range for today is between 0.6520$ support and 0.6610$ resistance.
Trend Forecast: Bearish
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