Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7649. The pair broke through the lower boundary of the bullish channel. At the moment, we should expect an attempt to test the broken edge and continue falling below the level of 0.7375.
AUD/USD weekly forecast on November 6 — 10, 2017
In favor of the fall of the pair, a resistance line test will be performed on the indicator of relative strength index (RSI). The cancellation of the AUD/USD fall will be triggered by a breakdown at the level of 0.7750, which indicates that the Australian Dollar will continue to grow at Forex with a target above 0.7920. Expect to accelerate the fall is with the breakdown of the level of 0.7600.
Among the important news from Australia, which may have an impact on the Australian Dollar, is: The Reserve Bank of Australia’s decision on the principal interest rate on November 7, 2017.
AUD/USD weekly forecast on November 6 — 10, 2017 suggests a rebound from the broken channel border and the continuation of the fall below the level of 0.7375, in favor of the fall will perform a trend line test on the indicator of relative strength index (RSI), the abolition of the fall option will be the breakdown of the area 0.7750.
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