AUDUSD analysis 27.05.2020

The Australian dollar versus the US dollar made more positive trades yesterday to reach our awaited target at 0.6685, and some slight bearish tendency appears due to the stochastic negativity, pending obtaining a positive momentum enough to push the price to breach the mentioned level and open the way for the continuation of the main bullish trend within the channel The image that appears.

Consequently, we will continue to favor the bullish trend for the upcoming period supported by the EMA50, noting that a break of 0.6560 will press the price to test 0.6407 areas before any new attempt to rise.

The expected trading range for today is between 0.6600 support and 0.6720 resistance.

Expected trend for today: bullish.