The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:47AM UTC
AUDUSD Price Analysis
Expected Scenario: Bearish Momentum
- The AUDUSD price failed to sustain below the $0.6500 level for an extended period, exhibiting temporary positive trades and hovering around $0.6510$. However, the EMA50 continues to exert negative pressure on the price, supporting the likelihood of a continued bearish wave in the near future, with targets at $0.6450 followed by $0.6410.
- Stochastic is showing signs of losing positive momentum, further supporting the expected decline, which remains valid unless the price rallies to breach $0.6570 and holds above it.
Expected Trading Range for Today
- Support: $0.6460
- Resistance: $0.6550
Trend Forecast: Bearish
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