AUDUSD Approaching Target: Quick Daily Outlook
Arslan Butt•Thursday, February 23, 2023•1 min read
The AUDUSD pair has experienced further negative trades and is nearing the anticipated target of 0.6780, although there has been a temporary bullish bias due to stochastic positivity, which is gradually losing momentum. It is expected that the price will resume its correctional bearish wave, with the next target at 0.6665.

Therefore, we maintain our recommendation for a bearish trend for the foreseeable future, organized within the bearish channel illustrated on the chart. It should be noted, however, that breaking through 0.6925 will stop the bearish wave and potentially lead the price back to the main positive trend.
The predicted trading range for today is between 0.6760 support and 0.6885 resistance, with the projected trend for today being bearish.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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