01.05.2020
The Australian dollar versus the US dollar shows some bearish tendency to approach the bullish channel support test, accompanied by the stochastic reaching the oversold areas, while the EMA50 continues to support the price from below.
Thus, we will continue to favor the bullish trend unless the 0.6407 level is broken and stability below it, while noting that our next main target is at 0.6685.
The expected trading range for today is between 0.6430 support and 0.6600 resistance.
Expected trend for today: bullish.
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