The AUDUSD breaks the support – Analysis 16/03/2020

The AUDUSD pair broke the main bearish channel’s support line strongly and settled below it, which stops the positive scenario suggested in our last report and leads the price to achieve more decline on the short term and medium term basis, on its way to visit 0.6000 areas as a next main station.

Therefore, the bearish trend will be suggested in the upcoming sessions, noting that breaching 0.6235 will lead the price to recover and achieve positive targets that start at 0.6320 and extend to 0.6460.

The expected trading range for today is between 0.6190 support and 0.6200

The expected trend for today: Bearish