Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of 0.7243. The pair continues to move within the upward correction. At the moment, we should expect an attempt to test the support area near the level of 0.7125. Then continued growth of AUD/USD with the target above the level of 0.7590.
AUD/USD weekly forecast & analysis November 12 — 16, 2018
In favor of the pair growth at Forex will be a test of the rising trend line on the indicator of relative strength index (RSI). As well as the formation of the head and shoulders reversal pattern. Cancellation of the growth option AUD/USD in the current trading week of November 12 — 16, 2018 will be the fall and the breakdown level of 0.6950. This will indicate a breakdown of the support area and the continuation of the fall of the Australian Dollar on Forex. Confirmation of the upward trend will be the breakdown of the resistance area and the closure above the level of 0.7340.
Among the important news from Australia that may have an impact on the Australian course, it is worth highlighting: The unemployment rate, the change in the number of employees.
AUD/USD weekly forecast & analysis November 12 — 16, 2018 implies an attempt to test the level 0.7125. Further, the growth continues above the level of 0.7590. In favor of the pair will make a test trend line on the indicator of relative strength index (RSI). Cancellation of growth option will be the fall and the breakdown of 0.6950 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair.
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