09.09.2020
The Australian dollar against the US dollar achieved a clear break to support the ascending channel that appears on the image and settled below it, leading the price to start a downside correction to the rally that started from 0.5509 areas, on its way to head towards 0.6964 as a next main target.
Consequently, the bearish trend will be likely during the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave depends on stability below 0.7320.
The expected trading range for today is between 0.7140 support and 0.7280 resistance.
The expected general trend for today: Bearish.
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