Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish channel. At the moment, we should expect an attempt to test the support area near the level of 0.7700 and the continuation of the growth of quotations in the area above the level of 0.7820.
AUD/USD forecast & technical analysis April 12, 2018
In favor of the growth of the pair AUD/USD, an uptrend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the variant of the Australian Dollar price growth will be the fall and breakdown at the level of 0.7660, which will indicate the breakdown of the support area and the continuation of the AUD/USD fall on the Forex market with a target below 0.7600. To expect confirmation of growth on the pair stands with the breakdown of the upper limit of the descending channel and the closing of quotations above the area of 0.7850.
AUD/USD forecast & technical analysis April 12, 2018 assumes a test of the support level near the 0.7700 area and the continuation of the growth of quotations above the level of 0.7820, an additional signal in favor of the pair growth will test the trend line on the indicator of relative strength index (RSI).