AUDUSD analysis 12.10.2020

The Australian dollar against the US dollar made a clear breach of 0.7190 and closed the daily candlestick above it, which stopped the negative scenario suggested in our recent reports and leads the price to rise again, to head towards visiting 0.7325 then 0.7413 as next major stops.

Thus, the upside will be likely for the upcoming period, noting that breaching 0.7190 then 0.7155 levels will stop the expected rise and pressurize the price to turn to the downside.

The expected trading range for today is between 0.7190 support and 0.7270 resistance

The expected general trend for today: Bullish.