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Today, the AUDUSD price successfully reached our anticipated target at $0.6800, encountering significant resistance that prompted a clear downward rebound. It’s noteworthy that the stochastic indicator has shifted away from its negative momentum and moved into oversold territory, suggesting potential momentum for the price to resume its anticipated bullish trajectory in the near future, targeting $0.6870 as the next major level.
Supporting this bullish outlook is the EMA50, which continues to reinforce the upward trend, contingent upon the price maintaining stability above $0.6728.
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The projected trading range for today spans between a support level of $0.6720 and a resistance level of $0.6820.
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Trend Forecast: Bullish
