The AUDUSD currency pair has exhibited a substantial bearish rebound after coming within a few pips of our previously projected target at 0.6400. This downturn marks a resumption of the predominant bearish trend, with the goal of reaching subsequent negative targets. The first of these targets involves surpassing the 0.6285 level, followed by further movement towards the 0.6200 level as the subsequent significant station.
The bearish inclination remains the focus for today, fortified by the negative pressure exerted by the EMA50. It is imperative to note that a failure to break through the 0.6285 threshold might lead to a potential price recovery, which could steer the pair towards the 0.6400 level.
The projected trading range for the day encompasses the support level at 0.6240 and the resistance level at 0.6340.
The prevailing trend for today is anticipated to be bearish, considering the prevailing market conditions.