Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7825. 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. Ichimoku Kinko Hyo indicator area signal line test near the level of 0.7870 is expected, from which one should expect an attempt to fall and further development of the bearish trend with the target of decreasing near the 0.7720 level.
Australian Dollar forecast AUD/USD on October 4, 2017
An additional signal in favor of falling quotations of the pair will be a resistance level test. Earlier, a medium strength signal was received for the sell of the Australian Dollar/US Dollar, due to the crossing of the signal lines at 0.8020. The cancellation of the fall of the pair’s quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 0.7965, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations AUD/USD is with the breakdown of the local minimum area at the level of 0.7780.