The AUD/USD pair is currently experiencing fluctuations around the EMA50. It’s noteworthy that the stochastic indicator is displaying clear signs of gathering positive momentum, which could serve as an impetus for the pair to resume its bullish trajectory, targeting the 0.6545 level as the next significant waypoint.
As long as the price remains above 0.6400, the bullish scenario remains in play. Conversely, a breach of this level would introduce negative factors that might lead to a decline towards the 0.6300 area initially.
Today’s projected trading range is expected to oscillate between support at 0.6425 and resistance at 0.6520, with the prevailing trend favoring the bulls.