The AUDUSD visits the channel’s resistance – Analysis - 29-09-2022

The AUDUSD pair traded with strong positivity yesterday to breach 0.6445 level and reach the bearish channel’s resistance that appears on the chart, noticing that the price begins to rebound bearishly now, and according to the trading rules inside the channels, the price is on its way to decline again and head to visit 0.6360 areas mainly.

Therefore, we expect to witness more bearish bias in the upcoming sessions supported by stochastic and the EMA50 negativity, noting that breaching 0.6520 will stop the suggested negative scenario and push the price to start bullish correction on the intraday basis.

The expected trading range for today is between 0.6400 support and 0.6530 resistance

The expected trend for today: Bearish