AUDUSD analysis 17.04.2020

The Australian dollar pair against the US dollar broke through the level of 0.6315 and ended yesterday's trading above it, to start the day with an upward trend approaching the level of 0.6407, which indicates the price trend to resume the bullish wave within the upward channel that appears in the picture, where the breach of the last level represents the key to the rush towards achieving more Gains of 0.6685 in the short term.

Consequently, the bullish bias will be expected for the upcoming sessions supported by moving above SMA 50, taking into consideration that failure to breach 0.6407 will stop the suggested rise and press the price to drop again.

The expected trading range for today is between 0.6300 support and 0.6470 resistance.

Expected trend for today: bullish.