AUDUSD analysis 13.04.2020

Major currency pairs show quiet and weak trading with the opening of the week, due to the impact of the financial markets holiday, and therefore, the scenarios proposed in last Friday's reports will remain as they are

As the Australian dollar versus the US dollar resumes its positive trading significantly, it moved away from the 0.6236 level, reinforcing the expectations of the continuation of the expected bullish trend in the short and intraday basis, and the path is open to achieving our expected goal at 0.6407, noting that breaching this level will extend the upside wave to reach 0.6685.

Thus, the bullish scenario will remain effective with the support of SMA 50, indicating that stability above 0.6236 is important to achieve the suggested targets.

The expected trading range for today is between 0.6260 support and 0.6450 resistance.

Expected trend for today: bullish.