AUDUSD analysis 08.05.2020

The Australian dollar pair against the US dollar ended yesterday's trading with a noticeable positive, confirming the penetration of 0.6407 to settle around 0.6500, and begins the day with an additional bullish tendency to support the chances of achieving more gains during the upcoming sessions, so that the bullish direction is expected for this day, and the path is open for heading towards the pre-recorded summit at 0.6685.

SMA 50 supports the expected rise, which will remain valid unless 0.6407 level is broken and stability is above it.

The expected trading range for today is between 0.6430 support and 0.6600 resistance.

Expected trend for today: bullish.