30.06.202022:20 Short-term technical analysis of AUDUSD

AUDUSD remains inside the medium-term bullish channel and inside the trading range since the start of June. Price so far respects medium-term support and bulls are pushing price higher from the lower channel boundary.

Exchange Rates 30.06.2020 analysis

Red lines- trading range

Blue lines - bullish channel

AUDUSD is respecting channel support and is bouncing off the lower boundary. Resistance remains at 0.6975 at the upper trading range boundary. A break above this level will push price towards 0.72 and the upper channel boundary. A break below 0.68 could lead to more selling pressures pushing price towards 0.66.

Short-term trend is unclear as price mostly moves sideways.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2020
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