The AUDUSD pair is showing strong upward momentum, heading towards a critical resistance level at $0.6470. As noted earlier, for the bearish outlook to remain valid, the price needs to stay below this resistance. The negative scenario is further supported by the 50-period Exponential Moving Average (EMA50).
The first bearish target is seen at $0.6355, with further downside potential if the price fails to break above the key resistance.
The expected trading range for today is between support at $0.6340 and resistance at $0.6440.
Trend Forecast: Bearish
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