The AUDUSD pair has once again embraced positive momentum in recent trading sessions, edging closer to our previously awaited target at 0.6545. It is worth noting that the price action has successfully formed a double bottom pattern, a constructive signal with optimistic implications. This pattern carries additional positive targets that extend beyond the aforementioned level, projecting gains reaching 0.6660 in the near-term.
The bullish trajectory remains the favored scenario for the upcoming period, provided that the key support level at 0.6400 remains unbreached. An encouraging sign is the continued support exhibited by the EMA50, reinforcing the overall upward movement.
As we turn our attention to today’s projected trading range, it is anticipated to span from 0.6440 as the support to 0.6545 as the resistance.
Projected Trend for the Day: Bullish