AUDUSD analysis 28.07.2020

The Australian dollar versus the US dollar traded positively yesterday, approaching our awaited target of 0.7200, and today begins with a bearish bias affected by the stochastic negativity, and it may test the pivotal support levels between 0.7095 and 0.7065 before returning to rise again.

Until now, we continue to favor the bullish trend for the upcoming period, provided stability above the above-mentioned support levels, noting that exceeding 0.7200 will push the price to 0.7290 as the next main target.

The expected trading range for today is between 0.7065 support and 0.7200 resistance.

Expected trend for today: bullish.