AUDUSD analysis 05.06.2020

Yesterday the Australian dollar versus the US dollar resumed its positive trading yesterday and approached the 0.7000 barrier again, which strengthens expectations for the continuation of the main bullish trend, which is moving inside the bullish channel that appears in the image, with a reminder that our next main target reaches 0.7200.

SMA 50 continues to support the price from below, to support the chances of achieving the suggested positive targets, noting the importance of holding above 0.6884 for the continuation of the expected rise.

The expected trading range for today is between 0.6884 support and 0.7040 resistance

Expected trend for today: bullish