The AUDUSD price reaches the target – Forecast today - 25-03-2024

The AUDUSD price continued to decline to reach few pips away from our waited target at 0.6500$, showing some slight bullish bias by today’s open, affected by stochastic positivity, and it might test the key resistance 0.6570$ before turning back to decline again.

The EMA50 forms negative pressure that supports the continuation of the bearish trend domination in the upcoming period, noting that breaking 0.6500$ will push the price towards 0.6450$ followed by 0.6410$ levels, while breaching 0.6570$ represents the key to start recovery attempts and achieve gains that start by visiting 0.6640$.

The expected trading range for today is between 0.6470$ support and 0.6565$ resistance

Trend forecast: Bearish