The Australian Dollar to US Dollar currency pair AUD/USD continues its movement within a correction and bearish channel. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between signal lines downwards, which indicates pressure from the bears on the currency pair and potential continuation of the decline in the value of the instrument already at current levels. At the time of the forecast publication, the Australian Dollar to US Dollar exchange rate is 0.6435. Currently, one should expect an attempt for a rise and testing the resistance area near the level of 0.6485. Then, a price bounce downward followed by further decline in quotations below the level of 0.6315.
Australian Dollar Forecast AUD/USD for May 29, 2025
Additional confirmation for the depreciation of the currency pair AUD/USD will be a rebound from the resistance line on the Relative Strength Index (RSI) indicator. The second signal in favor of this scenario is when the price bounces off the upper boundary of the reversal pattern “Head and Shoulders”. Cancellation of the scenario with the fall of the Australian Dollar quotes on Forex will be a strong rise in prices and a breakthrough the level 0.6605. This will indicate breaking the resistance area and continuation of the growth of the AUD/USD currency pair to potential target levels above the 0.6835 level. Expect confirmation for the depreciation with penetration into support zone and closing quotes below the level 0.6405, which will indicate breaking the upper boundary of the reversal pattern “Head and Shoulders” and starting the implementation of a downward pattern with targets below.
Australian Dollar Forecast AUD/USD for May 29, 2025 anticipates a test of the resistance level near the area of 0.6485. Subsequently, continuation of price drops below the level of 0.6315. An additional signal in favor of depreciation would be a rebound from the trend line on the Relative Strength Index (RSI) indicator. Rejection of the downward scenario will come with strong growth of AUD/USD quotes and a breakthrough the area of 0.6605. This indicates a continuation of the rise in prices with a potential target above the level of 0.6835.
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