In recent trading sessions, the AUDUSD currency pair exhibited a notable maneuver by probing the pivotal resistance mark at 0.6600. However, this endeavor was met with a decisive reversal as the pair retraced significantly, establishing a stance situated below 0.6550 once again. This conspicuous price action sustains the ongoing validity and prominence of the bearish trend projection, underscoring the impetus to descend towards a subsequent primary target, notably situated at 0.6400.
A palpable influence accentuated by the EMA50 has contributed to the generation of downward pressure, thereby reinforcing the prospects of the anticipated descent. The fulfillment of this bearish narrative is contingent upon the pair’s ability to maintain a position below the pivotal thresholds of 0.6550 and 0.6600.
As market participants navigate the unfolding landscape, the anticipated trading span for the day is delineated by the support level at 0.6460 and the resistance ceiling at 0.6570. This tactical range underscores the anticipation of a sustained bearish undercurrent, corroborating the dominant trend for the day.