Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the bearish channel. At the moment, we should expect the pair to grow into the area of 0.7950, where again we should expect the decline to continue. In favor of falling quotations of the pair AUD/USD will test the resistance area on the indicator of relative strength index (RSI).
AUD/USD forecast & technical analysis on August 18, 2017
The target of the decrease is the region at the level of the lower boundary of the channel near 0.78. The cancellation of the variant of the Australian Dollar price reduction will be the breakdown of the upper border of the channel and the closing of the quotes of the pair above 0.8020, which will indicate the continued growth of the pair.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis AUD/USD.
AUD/USD forecast & technical analysis on August 18, 2017 assumes an attempt to test the level of 0.7950 and continue the decline in the area below 0.78, as part of the start-up of the bearish model 5-0.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
