Currency pair Australian Dollar to US Dollar (AUD/USD) concludes the trading week near the area of 0.6417. The pair continues its movement within the context of a decline and descending channel. Moving averages indicate the presence of bearish trend. Prices are again testing the zone between signal lines, which indicates pressure from sellers of the asset and potential continuation of the depreciation of the currency pair’s value. Currently, one should expect an attempt at developing a bullish correction and testing the resistance area near the level 0.6515. Then, a bounce down and continued depreciation of AUD/USD with a potential target below the level 0.6065 on the foreign exchange market.
AUDUSD Weekly Forecast May 19 — 23, 2025
Additional confirmation of the pair’s decline on Forex will be a bounce off the upper boundary of the descending channel. The second signal is a rebound from the resistance line on the Relative Strength Index (RSI) indicator. Cancelling the option of AUD/USD currency pair drop for the current trading week 19 – 23 May 2025 will be a strong rise and breaking through the level of 0.6685. This will indicate a break of the resistance level and continuation of the growth of the Australian Dollar on Forex with potential target at the level of 0.7245. Confirmation of the decline development will be breaking through support area and closing prices below the level of 0.6135, indicating a break through the lower boundary of the bearish correction channel.
AUDUSD Weekly Forecast May 19 — 23, 2025 anticipates an attempt at a bullish correction and testing the level of 0.6515. Subsequently, continuation of the currency pair’s decline below the level of 0.6065. A bearish bias for the current trading week will be indicated by testing the trend line on the relative strength indicator. Rejection of the downward scenario will be a strong rise and break of the area at 0.6685, which will signal a breach of the resistance zone and continuation of the pair’s upward movement with a target above 0.7245.
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