Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the limits of the decline. At the moment, the pair is testing the area of 0.7840, we should expect a rebound attempt and growth above the level of 0.7910 as part of the formation of the bearish wave model of Wolfe.
AUD/USD prediction & technical analysis on October 20, 2017
The target of testing the model is the area below the level of 0.7770. Again, from the level of 0.7910, we should expect a further fall. In favor of reducing the pair AUD/USD, a resistance area test will be performed on the relative strength indicator (RSI). The cancellation of the variant of the Australian Dollar price fall will be a strong growth and breakdown at the level of 0.7990, which will indicate the continued growth of AUD/USD on the Forex market above the 0.8050 area.
AUD/USD prediction & technical analysis on October 20, 2017 assumes a test of the level of 0.7910 as part of the completion of the Wolfe model, from which it is expected to continue the decline, in favor of the drop, the resistance area test will be performed on the relative strength indicator (RSI), the area of 0.7990.