Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction. At the moment, we should expect an attempt to test the upper limit of the bearish channel near the level of 0.7710 and the continuation of the fall of quotations in the area below the level of 0.7610.
AUD/USD forecast & technical analysis April 4, 2018
In favor of the fall of the pair AUD/USD, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the variant of the Australian Dollar price fall will be a strong growth and breakdown at the level of 0.7750, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on FOREX with a target above 0.7860. To expect confirmation of the development of the fall on the pair is with the breakdown of the lower border of the channel and the closing of quotations below the area of 0.7590.
AUD/USD forecast & technical analysis April 4, 2018 suggests a test of the resistance level near the 0.7710 area and the continuation of the fall of quotations below the level of 0.7610, an additional signal in favor of the fall of the pair will be the trend line test on the relative strength index (RSI).