AUD analysis 10.03..2020

The Australian dollar versus the US dollar tested a test of 0.6670 yesterday and rebounded significantly from there, and we notice that the price starts today with an additional drop to move without resisting the descending channel, which supports the continuation of the main downside scenario, whose first target is located at 0.6430.

Consequently, we will maintain our bearish expectations during the upcoming sessions unless the price rushes to breach the 0.6670 level and hold above it.

The expected trading range for today is between 0.6450 support and 0.6640 resistance.

Expected trend for today: bearish.