The Australian pair is moving in front of the Swiss franc on the daily frame in a bearish trend since the beginning of the year, as it fell from 0.6790 levels until it reached a new price low
The price stabilized at the resistance area, which became support at 0.5830-0.5900 levels, and the price was able to continue its rise from it.
The price is now approaching a strong resistance area at 0.6290-0.6350 levels in addition to a falling trend line from last January's summit
Therefore, the price is expected to drop to levels of 0.5900-0.5830
The trading range is 0.6350-0.6290
The expected direction is down
