AUD/USD Forecast and Analysis March 16 — 20, 2020


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Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of ​​0.6303. The pair continues to move in the framework of a strong fall and a downward channel. Moving averages indicate a bearish trend. Prices pushed from the area between the signal lines, indicating pressure from sellers. At the moment, we should expect an attempt to develop a decline and test the support area near the level of 0.6045. Then, the continuation of the rebound and the beginning of the growth of AUD/USD with a potential target above the level of 0.6655.

AUD/USD Forecast and Analysis March 16 — 20, 2020

In favor of the growth of the pair on Forex, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound rebound from the lower boundary of the downward channel. Cancellation of the growth option for the AUD/USD currency pair in the current trading week March 16 — 20, 2020 will be a fall and a breakdown of the level of 0.6005. This will indicate a breakdown of the lower boundary of the channel and the continued fall of the Australian Dollar at FOREX with a potential target at the level of 0.5605. The development of growth will be confirmed by the breakdown of the resistance area and closing above the level of 0.6465.

AUD/USD Forecast and Analysis March 16 — 20, 2020

Among the important news from Australia that may have an impact on the Australian course, it is worth highlighting: Australia Employment Change.

AUD/USD Forecast and Analysis March 16 — 20, 2020 implies an attempt to test the level of 0.6045. Further, continued growth above the level of 0.6655. In favor of the rise in the pair, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the growth option will be a fall and a breakdown of the area of ​​0.6005. This will indicate a breakdown of the support area and continued fall of the pair with a target below 0.5605.


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