Currency pair AUD/USD continues its movement within an up trend and a bull channel. Moving averages indicate the presence of short-term bearish tendencies. Prices broke through the area between signal lines upwards, which indicates pressure from buyers of the currency pair and potential continuation of the rise in the instrument’s value already at current levels. At the time of publishing, the Australian Dollar to USD exchange rate is 0.6441. Currently, it would be reasonable to expect a bearish correction development and testing of the support area near level 0.6405. Subsequently, a price bounce up and continuation of the rise in quotes into the region above the 0.6515 level.
Australian Dollar Forecast AUDUSD for May 20, 2025
Additional signals in favor of the growth of the currency pair AUD/USD include a bounce off the support line on the Relative Strength Index (RSI) indicator. The second signal for this scenario is a rebound from the lower boundary of the bull channel. A reversal of the scenario with the rise in quotes of the Australian Dollar on Forex would be a drop in prices and breaking through the level 0.6345. This will indicate a break through the support area and continued decline of the AUD/USD currency pair, with a potential target below the level 0.6225. To expect confirmation of growth in the pair, wait for the breach of the resistance area and closure of quotes above the level 0.6465.
Australian Dollar Forecast AUDUSD for May 20, 2025 anticipates a test of the support level near the area of 0.6405. Following this, continuation of the pair’s quotations rise above the level of 0.6515. An additional signal in favor of the pair’s growth would be testing the trend line on the Relative Strength Index indicator. Cancellation of the upward scenario will be AUD/USD price drop and breaking through the area of 0.6345. This indicates a continuation of the quotations’ decline with a potential target below the level of 0.6225.
