AUDUSD analysis 13.05.2020

The Australian dollar versus the US dollar pair is back to test the support of the main bullish channel and is still above it, noting that SMA 50 is trying to protect the suggested positive scenario in our recent reports, waiting for the resumption of the uptrend targeting mainly 0.6685 level.

On the other hand, it should be noted that breaking the 0.6407 level will stop the expected rise and press the price to drop and visit 0.6236 areas initially.

The expected trading range for today is between 0.6410 support and 0.6550 resistance.

Expected trend for today: bullish.