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The AUDUSD price forecast update 08-05-2024
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The AUDUSD price forecast update 08-05-2024
May 8, 2024 3:30 AM

AUDUSD Price Analysis Expected Scenario The AUDUSD price achieved initial break to 0.6570$ level. Attempts to hold below it, supporting the continuation of the domination of the expected bearish trend for today. Paving the way to head towards 0.6500$ that represents the next negative target. Waiting for more decline for the rest of the day conditioned by the price stability below 0.6570$. Failing to confirm the break will push the price to start recovery attempts and target 0.6640$ areas initially. Expected Trading Range Between 0.6520$ support and 0.6625$ resistance.

Trend Forecast: Bearish

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