AUDUSD analysis 31.03.2020

The Australian dollar versus the US dollar tested the 0.6097 level with the opening of the day and bounced up from there, on its way to visit the 0.6236 level which represents our first positive goal, with a reminder that breaching this level will push the price to 0.6407 as the next stop.

Thus, the bullish trend will remain effective for the coming period supported by the moving average 50, organized by the bullish channel that appears in the picture, with a reminder that the continuation of the bullish wave requires stability above 0.6097 and the most important above 0.5958.

The expected trading range for today is between 0.6100 support and 0.6260 resistance.

Expected trend for today: bullish.