The AUDUSD currency pair has exhibited a continued upward trajectory, reaching the key resistance level at 0.6400. However, the price is poised for a potential bearish rebound, signaling a resumption of the anticipated bearish trend in the intraday and short-term perspective. The initial downside target in this context is positioned at 0.6285.
It is important to acknowledge that surpassing the 0.6400 resistance level has the potential to alter the bearish scenario and set the stage for additional gains, with a target extending to 0.6500.
For the trading day ahead, the projected range is anticipated to fluctuate between the support at 0.6325 and the resistance at 0.6420.
The overall outlook for the day maintains a bearish sentiment, pending the price’s ability to surmount the resistance at 0.6400.