The AUDUSD price touches the target – Forecast today - 16-04-2024

AUDUSD Price Analysis

Expected Scenario

• The AUDUSD price succeeded to achieve our waited target at 0.6410$, showing more decline now to press on this level and hint heading to achieve more negative targets, noting that breaking this level will push the price towards 0.6340$ as a next main station.
• Therefore, we expect the continuation of the bearish bias in the upcoming sessions, taking into consideration that confirming breaking 0.6410$ will push the price to start recovery attempts and visit 0.6500$ initially.

Expected Outcome

The expected trading range for today is between 0.6350$ support and 0.6450$ resistance.