AUD analysis 25.03.2020

The Australian dollar versus the US dollar succeeded in confirming the breach of the 0.5958 level after the daily candle closed above it, which supports the continuation of our effective expectations for the bullish trend during the coming period, and the path is open to achieving our next target which is located at 0.6097.

Consequently, the bullish bias will remain intraday, indicating that the price has completed forming a double bottom pattern whose features appear in the image, to support opportunities to breach the target level and extend the upside wave to reach 0.6236 as a next station, taking into account that the bullish trend will remain intact unless A break below 0.5958 and stability below it.

The expected trading range for today is between 0.5950 support and 0.6150 resistance.

Expected trend for today: bullish.