Currency pair Australian Dollar to US Dollar AUD/USD continues its movement within the decline pattern of a “Triangle”. Moving averages indicate a short-term bullish trend. Prices broke through the area between signal lines downwards, indicating pressure from the bears on the currency pair and potential continuation of the fall in the instrument’s value already at current levels. At the time of writing, the Australian Dollar to US Dollar exchange rate is 0.6417. Currently, one should expect an attempt for a development of a bearish correction and testing the resistance area near the level of 0.6465. Subsequently, a price bounce downwards and continuation of the decrease in prices to the region below the level of 0.6285.
Australian Dollar Forecast AUD/USD for May 23, 2025
Additional confirmation of the depreciation of the currency pair AUD/USD will be a bounce off the resistance line on the Relative Strength Index (RSI). A second signal in favor of this scenario will be rebounding from the upper border of the “Triangle” model. Cancellation of the scenario of the decline in the Australian Dollar’s quotes on Forex will be strong price growth and breaking the level 0.6525. This indicates a break through the resistance area and continuation of the growth of the AUD/USD currency pair with a potential target above the level of 0.6755. Waiting for confirmation of depreciation should occur with a breakthrough in support area and closing quotes below the level 0.6375, which will indicate breaking through the lower border of the “Triangle” model and beginning the implementation of patterns with targets down.
Australian Dollar Forecast AUD/USD for May 23, 2025 anticipates a test of the resistance level near the area 0.6465. Following this, continuation of price pair decline below the level 0.6285. An additional signal in favor of the depreciation of the pair would be a bounce off the trend line on the Relative Strength Index (RSI) indicator. Cancellation of the downside option will be a strong rise in AUD/USD quotations and breakout through the area 0.6525. This will indicate continuation of price increases with potential target above level 0.6755.
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