AUD analysis 30.12.2019

The Australian dollar versus the US dollar shows additional positive trades to reach the outskirts of our main target at 0.7015, which represents the 23.6% Fibonacci retracement level of the depreciation that appears in the picture, noting that exceeding the bullish sub-channel resistance provides signals on the price trend to achieve more gains during The coming period, when breaching the mentioned level represents the key to the ascending wave reaching 0.7230.

Thus, we expect the bullish trend to continue in the intraday and short term, taking into consideration that failure to achieve the required breach will stop the suggested rise and put pressure on the price to turn down.

The expected trading range for today is between 0.6950 support and 0.7040 resistance.

Expected trend for today: bullish.