AUD analysis 21.02.2020

The Australian dollar versus the US dollar continues to decline, approaching the support of the descending channel that appears in the picture, which supports the chances of achieving further decline during the upcoming sessions, reminding us that we are waiting for the 0.6560 level to be tested as a next negative station.

Therefore, the downside scenario will remain intact and active in the intraday and short term provided that the price maintains its stability below 0.6670.

The expected trading range for today is between 0.6560 support and 0.6640 resistance.

Expected trend for today: bearish.