AUDUSD analysis 25.06.2020

The Australian dollar versus the US dollar made a noticeable negative trading yesterday, moving above the MA and stabilizing below it, which supports expectations of achieving further decline during the upcoming sessions, pending the trend towards 0.6700 which represents our next main target.

Consequently, we will continue to favor the bearish trend over an intraday and short term, noting that a break of 0.6900 will push the price to start new recovery attempts and move towards testing 0.7010 areas then 0.7064 initially.

The expected trading range for today is between 0.6790 support and 0.6900 resistance.

Expected trend for today: bearish.