AUD analysis 22.01.2020

The Australian dollar versus the US dollar shows more bearish tendency to reach the upside channel support, accompanied by the appearance of oversold signs through the stochastic, waiting for the price to be stimulated to resume positive trades within the mentioned channel and then head towards 0.7015 which represents the main positive target.

Consequently, the bullish scenario will remain intact unless 0.6805 level is broken and stability remains with a daily closing below it.

The expected trading range for today is between 0.6805 support and 0.6890 resistance.

Expected trend for today: bullish.