FX.co ★ AUD/USd analysis for 04.16.2020 - Bullish divergences on the momentum oscillators. Watch for buying opportutniies with the first target at 0.6348

News :

The Australian government will pay Qantas and Virgin Australia up to $165m to maintain key domestic flight routes over the next two months.The move means Virgin Australia, which is under intense financial pressure and had grounded its fleet, will resume flying on Friday and continue the routes for at least the next eight weeks.

The federal government said it would underwrite the cost of the two major airlines operating a "minimum domestic network servicing the most critical metropolitan and regional routes".Technical analysis:

The very interesting situation I found on the AUD/USD. The 1h time-frame is showing bullish divergence on the MACD and Stochastic oscillator, which is sign that rally is expected.

Trading recommendation:

Watch for buying opportunities with the upward targets at the price of .6348 and 0.6373.

MACD oscillator is showing bullish divergence.

Resistance levels and upward targets are set at the price of 0.6348 and 0.6373.

Support level is set at the price of 0.6270