The AUDUSD currency pair is currently encountering a formidable barrier presented by the EMA50, which stands resolutely around the 0.6455 level. The awaited catalyst for positivity could potentially empower the price to surmount this obstacle and thereby initiate a trajectory towards our subsequent target at 0.6545.
As of now, the bullish trend projection remains active, contingent upon the preservation of the 0.6400 level. It is essential to acknowledge that breaching this level would constitute a negative influence, consequently propelling the price to recommence the overarching bearish trend.
Market participants should anticipate today’s trading range to stretch between the support level of 0.6380 and the resistance level of 0.6500.
Projected trend for today: Bullish