The AUDUSD under the negative pressure – Analysis - 26-03-2020

The AUDUSD pair faced negative pressure yesterday to break 0.5958 level and closes the daily candlestick below it, starting today with more decline to move away from this level, as it completed forming rising wedge pattern that its signs appear on the chart, which puts the price under more expected negative pressure for the upcoming period, on its way to visit 0.5786 initially.

Therefore, the bearish bias will be expected for today, noting that breaching 0.5958 and holding above it will reactivate the correctional bullish scenario that its first target located at 0.6097.

The expected trading range for today is between 0.5786 support and 0.6000

The expected trend for today: Bearish