Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7664. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the pair Australian Dollar/US Dollar. The test area of Ichimoku Kinko Hyo signal lines near the level of 0.7705 is expected, from which it is expected to attempt a rebound and further development of the bearish trend with the target of falling near the level of 0.7585.
Australian Dollar forecast AUD/USD on March 29, 2018
An additional signal in favor of the fall of the pair will be the test of the lower bound of the «Triangle» model. Previously, a strong signal was received for the sell of the pair Australian Dollar/US Dollar, due to the crossing of signal lines at the level of 0.7725.
The cancellation of the fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.7800, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations AUD/USD is with the breakdown of the support area and closing below the level of 0.7650.