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.
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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