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The AUD/USD pair has displayed some bullish movement, approaching the $0.6570 level. However, stochastic indicators are losing positive momentum and nearing overbought conditions, which may prompt the price to revert to a bearish trend in the near term. The next bearish target is anticipated at $0.6500.
Support for this bearish outlook is provided by the EMA50, reinforcing the bearish trend as long as the price remains below $0.6570.
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The expected trading range for today is between $0.6500 support and $0.6590 resistance.
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Trend Forecast: Bearish
