Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7875. The pair continues to move within the framework of the bullish correction. At the moment, we should expect a test of the level of 0.7950 and the beginning of the fall with a target below 0.7500 as part of the start of the development of the «Head and Shoulders» reversal model.
AUD/USD weekly forecast on January 15 — 19, 2018
In favor of the fall of the pair is the resistance area test on the relative strength index (RSI). The cancellation of the AUD/USD fall will result in a strong growth and breakdown at 0.8120, which will indicate continued growth of the Australian Dollar on FOREX and the cancellation of the reversal pattern.
AUD/USD weekly forecast on January 15 — 19, 2018 suggests a test of the level of 0.7950 and the beginning of the fall below the level of 0.7500, in favor of the pair’s decline is the test of the resistance area on the indicator of relative strength index (RSI), the cancellation of the fall will be the breakdown of the area 0.8120, which will indicate the breakdown local maximum and continued growth of the pair.
