The AUD/USD pair has resumed its downward trajectory following a temporary uptick in recent sessions. The pair is currently approaching the support line of the bullish channel depicted on the chart, signaling a potential further decline with the next key target at 0.6665.
The presence of the EMA50 reinforces the prevailing bearish trend. A successful breach of the aforementioned target could extend the bearish momentum, targeting 0.6545 in the near term. It is crucial to note that surpassing the resistance level at 0.6780 would indicate a deviation from the bearish sentiment, prompting a potential return to the primary bullish track.
The anticipated trading range for today is expected to fluctuate between the support at 0.6650 and the resistance at 0.6740. Traders are advised to closely monitor these levels for potential breakout or reversal signals.
In summary, the AUD/USD pair is currently in a bearish phase, aiming for the next target at 0.6665. The presence of the EMA50 underscores the bearish momentum, and a breach of the target could extend the decline to 0.6545. Conversely, surpassing the resistance at 0.6780 would suggest a shift back to the main bullish trend. Traders should exercise caution and stay attentive to critical levels for informed decision-making.