AUD/USD

AUD/USD: The Australian Dollar seems to get a momentum in price on the upward after it broke the downward trendline on friday.
In early session the price looked quite strong. But the main focus will be on the resistance it faces at 0.6475 which is the high of 12th March. A break above it will make way to test the highs at 0.6670,which was the high on 9th March. While a fail test of the high might see the price fall back to Friday's low.
As Corona Virus fear seems to come down, most governments are looking for a strategy to open respective economy after a difficult lock-down phase, the United States Dollar is taking a back step from its safe heaven status. Therefore the price of major pairs against the dollar might be edging up higher. But to keep in mind if the governments does not come with clear plan sooner the surge in prices will be short lived as the market will again turn back to the green backs for safety.

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