AUD analysis 27.12.2019

The Australian dollar versus the US dollar pair shows more bullish tendency to gradually crawl towards our main awaited target at 0.7015, which represents the 23.6% Fibonacci retracement level for the decline from 0.8135 to 0.6669, which means that breaching this level will extend the correctional bullish wave to reach 0.7229 in the short term.

SMA 50 continues to support the price from below, to keep our bullish expectations, provided that the price maintains its stability above 0.6780.

The expected trading range for today is between 0.6900 support and 0.7015 resistance.

Expected trend for today: bullish.