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The AUDUSD price breaks the support – Forecast today - 23-05-2024
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The AUDUSD price breaks the support – Forecast today - 23-05-2024
May 22, 2024 9:43 PM

AUDUSD Price Analysis Expected Scenario The AUDUSD price broke the 0.6640$ level clearly and closed the daily candlestick below it, nullifying the positive formation on the chart and indicating a move towards negative targets starting at 0.6570$. This suggests a bearish bias for the upcoming sessions.

Moving below the EMA50 supports the expected decline. However, breaching 0.6640$ and holding above it will halt the current negative pressure and prompt the price to attempt a recovery.

Expected Trading Range Between the support at 0.6570$ and the resistance at 0.6660$.

Trend Forecast: Bearish

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