AUDUSD analysis 06.08.2020

The Australian dollar versus the US dollar is hovering around 0.7200, and we note that the stochastic indicator is getting rid of its negativity to gradually gain positive momentum, waiting for the price to stimulate the resumption of the main bullish trend, which its next target is at 0.7290.

From here, we will continue suggesting the bullish trend for the upcoming period, provided that the price maintains its stability above 0.7065.

The expected trading range for today is between 0.7150 support and 0.7290 resistance.

The expected general trend for today: Bullish.