AUDUSD analysis 20.04.2020

The Australian dollar versus the US dollar provided quiet positive trading to gradually approach the level of 0.6407, and we are still waiting for the breach of this level to confirm the rush towards our next positive target of 0.6685.

In general, we continue to favor the bullish trend for the upcoming period unless the 0.6236 level is broken and stability below it, noting that SMA 50 provides positive support for the price to reinforce expectations of an increase.

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

Expected trend for today: bullish.