The AUDUSD pair remains ensnared in a range near the 0.6400 level, encountering challenges in securing a definitive breach. Notably, the stochastic indicator is once again showing signs of losing its positive momentum, potentially contributing to the pressure that may drive the price to overcome this level and sustain the subsequent decline over the intraday and short-term timeframes.
It’s worth highlighting that the immediate target lies at 0.6310 as we anticipate the continuation of the bearish trend in the near future. This projection holds true under the condition that the price remains below the 0.6440 threshold.
For today’s trading prospects, the anticipated range spans between the support at 0.6350 and the resistance at 0.6450, maintaining the prevailing bearish sentiment.