Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7611. The pair continues to move within the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 0.7640 and continue falling below the level of 0.7410.
AUD/USD weekly forecast on on December 4 — 8, 2017
In favor of the fall of the pair is the resistance line test on the indicator of relative strength index (RSI). The cancellation of the AUD/USD fall will result in a strong growth and breakdown at the level of 0.7680, indicating that the Australian Dollar will continue to grow in FOREX.
AUD/USD weekly forecast on on December 4 — 8, 2017 assumes an attempt to test the upper border of the channel and continue falling below the level of 0.7410, in favor of the pair’s decline, the trendline test will be performed on the relative strength index (RSI), the breakdown of the fall version will be the breakdown of the area of 0.7680.