The AUD/USD currency pair is currently exhibiting fluctuations near the 0.6730 level. Notably, the stochastic indicator shows signs of losing its positive momentum, indicating a potential resumption of bearish movements. The pair is anticipated to extend its downward trajectory, targeting the key level of 0.6665.
The intraday outlook supports a bearish trend, bolstered by the presence of the Exponential Moving Average (EMA50). It is crucial to emphasize that the sustainability of the bearish momentum hinges on the pair’s ability to remain below the resistance level at 0.6780.
Traders are advised to remain vigilant and monitor the price action for any significant developments. The expected trading range for the day is projected to fluctuate between the support at 0.6680 and the resistance at 0.6780.
In summary, the AUD/USD pair is poised for a bearish trend in the intraday session. A decisive breach above 0.6780 could potentially alter this outlook, and traders should be attentive to any developments around this critical resistance level.