The AUDUSD is currently experiencing a level of negative pressure, creating a technical dilemma for traders. The key focal point is the 0.6500 level, where the price’s reaction will determine the next course of action.
If the price holds below 0.6500, a further decline is anticipated, with the next downside target at 0.6410. Conversely, breaching and maintaining a position above 0.6500 will reignite the bullish trend, setting the stage for a potential move towards 0.6570.
Given the conflicting technical factors, analysts suggest adopting a cautious approach and refraining from trades until a clearer market situation emerges, particularly in relation to the crucial 0.6500 level.
The expected trading range for today is established between the support level at 0.6440 and the resistance level at 0.6550.
In conclusion, the AUDUSD faces a period of uncertainty with conflicting technical signals. Traders are advised to exercise patience and await further confirmation, particularly centered around the pivotal 0.6500 level.