The AUDUSD pair has lately demonstrated a propensity for a modest bullish bias, directing its trajectory towards a potential examination of the pivotal resistance at 0.6400. It’s important to note, however, that the stochastic indicator is evidently losing its positive momentum, signifying a likelihood of the resumption of the anticipated bearish trend in the upcoming period, with the initial targets set to be realized by breaching the 0.6285 level and proceeding towards 0.6200.
Hence, the bearish scenario remains valid, unless a breakthrough above 0.6400 materializes, and this is contingent on achieving a daily close above this threshold.
The expected trading range for today is anticipated to extend between the support at 0.6290 and the resistance at 0.6400.
The prevailing trend for today is expected to maintain its bearish bias.