Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near area of 0.7222. The pair 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 0.7310 and continue the decline of AUD/USD with a target below 0.6870.
AUD/USD weekly forecast & analysis October 1 — 5, 2018
In favor of the fall of the pair on Forex will test the trend line on the indicator of relative strength index (RSI). The abolition of the AUD/USD decline option on the current trading week on October 1 — 5, 2018 will be a strong growth and breakdown at the level of 0.7400, which will indicate the breakdown of the upper border of the channel and the continued growth of the Australian Dollar on Forex. Confirmation of the development of the downward trend will be the breakdown of the support area and the closure below the level of 0.7050.
Among the important news from Australia, which may have an impact on the Australian exchange rate, it is worth highlighting: The Reserve Bank of Australia’s decision on the basic interest rate, the Covering Statement of the Reserve Bank of Australia.
AUD/USD weekly forecast & analysis October 1 — 5, 2018 suggests a test of the level of 0.7310 and the continuation of the decline below 0.6870, in favor of the fall of the pair, a trend line test will be performed on the relative strength index (RSI), the abolition of the decline option will be a strong growth and breakdown of the area of 0.7400, which indicates the breakdown of resistance and the continued growth of the pair.
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