Australian dollar analysis 06.10.2021

The Australian dollar against the US dollar pair resumes its negative trading with the opening of the day after consolidating below the 0.7290 level, to keep the bearish trend scenario valid and active for the upcoming period, waiting for the breach of the 0.7245 level to facilitate the task of heading towards our next main target at 0.7170.

The stochastic indicator supports the expected decline, which will remain valid as long as it remains below 0.7290.

The expected trading range for today is between the support 0.7210 and the resistance 0.7300

The forecast general trend for today: Bearish