Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near area 0.7881. At the moment, the pair pushed away from the support area, we should expect the pair to continue growing above the level of 0.7980. Whence again it is necessary to expect continuation of falling of quotations AUD/USD in the area below the level of 0.7670.
AUD/USD weekly forecast on October 16 — 20, 2017
In favor of the fall of the pair, a resistance line test will be performed on the relative strength indicator (RSI), as well as a test of the upper boundary of the channel. The cancellation of the AUD/USD fall will be triggered by a breakdown at 0.8070, indicating that the Australian Dollar will continue to grow in Forex. To expect the acceleration of the fall is with the breakdown of the level of 0.7550.
Among the important news from Australia, which may have an impact on the Australian Dollar, is the following: The Protocol of the Reserve Bank of Australia Meeting on Monetary Policy, Unemployment Rate, Change in the Number of Employees.
AUD/USD weekly forecast on October 16 — 20, 2017 assumes an attempt to test the upper border of the channel near the level of 0.7980, from where it is expected to fall the pair AUD/USD in the area below the level of 0.7550, in favor of the decline will test the bearish trend line on the indicator of relative strength index (RSI), the cancellation of the fall option will be a breakdown of the area 0.8070.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
