The AUD/USD currency pair has recently tested the 0.6400 level and remains in a stable position below it, reinforcing the persistence of the bearish trend for the day. This bearish sentiment is further supported by the presence of the EMA50, exerting downward pressure on the price. Consequently, the pair is anticipated to target the 0.6300 level as its next primary objective. It is crucial to underscore the significance of staying below the 0.6400 level to sustain the anticipated decline.
For today’s trading session, the expected trading range is forecasted to extend from the support level at 0.6310 to the resistance level at 0.6410.
In summary, the AUD/USD pair has tested a critical level and maintains its bearish momentum. The continuation of this bearish trend depends on the pair’s ability to remain below the pivotal 0.6400 level.