The AUDUSD pair faced significant challenges in sustaining levels above 0.6570, leading to a pronounced negative shift that brought the pair down to the 0.6500 level. Presently, the price exerts notable downward pressure on this level, signaling a potential breach and paving the way for further declines, with the next anticipated target at 0.6410.
The prevailing bearish momentum suggests the likelihood of additional declines in the upcoming sessions, barring a substantial rally that manages to breach and sustain levels above 0.6570.
For today’s anticipated trading range, it is expected to oscillate between the support level at 0.6440 and the resistance level at 0.6540. Traders are advised to remain attentive to critical levels as the pair navigates through market dynamics.
In summary, the current trend leans decisively towards the bearish side for the AUDUSD pair, with intensified selling pressure driving the price lower. The scenario may undergo changes based on the price’s reaction around crucial levels, particularly the 0.6570 resistance.