AUD analysis 12.02.2020

The Australian dollar versus the US dollar is crawling upwards to approach the pivotal resistance 0.6750, and as long as the price is below this level, our bearish direction expectations will remain valid for the next period, supported by the negative pressure formed by the EMA50, waiting for targeting 0.6670 then 0.6560 levels as the next main stations.

It should be noted that a break of 0.6754 will push the price to test the 0.6820 level directly before any new attempt to decline.

The expected trading range for today is between 0.6670 support and 0.6755 resistance.

Expected trend for today: bearish.