The AUDUSD currency pair is currently grappling with resistance around the 0.6400 level. Initiating today’s trading session with a bullish inclination, the pair is endeavoring to distance itself from this level. This movement is indicative of an emerging bullish wave that is anticipated to target the 0.6545 vicinity.
Consequently, the prevailing bias for the day remains bullish, further buoyed by the positive signals emanating from the stochastic indicator. It is worth noting that a breach of the 0.6450 level would potentially facilitate the upward trajectory, while a breach of 0.6400 could signal a halt to the bullish surge, resuming the overarching bearish trend.
The expected range of trading activity for today is envisaged to fluctuate between the support level at 0.6380 and the resistance at 0.6480.
In conclusion, the prevailing trend for the day leans towards the bullish side, supported by stochastic positivity.