Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the limits of the decline. At the moment, we should expect an attempt to test the resistance area near the level of 0.7580 and the continuation of falling quotations in the area below the level of 0.7320.
AUD/USD forecast & technical analysis May 16, 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 drop in the Australian Dollar quotations will result in a strong growth and breakdown at the level of 0.7680, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7750. To expect confirmation of the development of the fall on the pair is with the breakdown of the support area and the closing of quotations below the area of 0.7450.
AUD/USD forecast & technical analysis May 16, 2018 suggests an attempt to test the upper border of the channel near the 0.7580 area and the continuation of the drop in quotations below the level of 0.7320, an additional signal in favor of the fall of the pair will test the trend line on the indicator of relative strength index (RSI).