Expected scenario: The Australian dollar witnessed a positive change in the general direction, after breaking the falling channel, and recording its highest level in a week, to close the end of last week's trading at the support of 0.57070, so we are expected to witness a rebound from Those levels, to target the 0.6080, and then the 0.6190 levels, after breaching the resistance of 0.5920.

Alternative scenario: In case the pair fails to breach the previously mentioned resistance, with the break of the support of 0.5640, we will witness a negative change in the general direction, with more decline down to 0.5510, even if the decline scenario is the least Likely at the moment.

Expected general trend: bullish

Estimated traffic range: 0.5700 to 0.6080