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The AUD/USD pair has clearly broken below the $0.6728 level, continuing its decline to challenge the support line of the bullish channel visible on the chart. This suggests an expected decline in the upcoming sessions, with a target of reaching $0.6640 as the next negative milestone.
Consequently, a bearish outlook is suggested for today, reinforced by the price moving below the 50-day Exponential Moving Average (EMA50). However, if the price breaches the $0.6728 level, it will halt the current downward pressure and potentially allow the price to resume the main bullish trend.
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The expected trading range for today is between the support level of $0.6650 and the resistance level of $0.6740.
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Trend Forecast: Bearish
