Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the 0.7726 area. The pair continues to move within the framework of the growth and ascending channel. Moving averages indicate a bullish trend. Prices have moved up far from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continued growth in the value of the currency pair. At the moment, we should expect an attempt to continue the development of the rise and test the resistance area near the level of 0.7755. Then, the rebound and the continuation of the fall in AUD/USD with a potential target below the level of 0.6545 in the foreign exchange market.
AUD/USD Forecast and Weekly Analysis January 25 — 29, 2021
An additional signal in favor of the fall of the pair on Forex will be a rebound from the upper border of the ascending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of falling the AUD/USD currency pair in the current trading week, the week January 25 — 29, 2021 will be a strong growth and a breakdown of the level of 0.7995. This will indicate a breakdown of resistance and a continuation of the rise in the Australian Dollar in Forex with a potential target at 0.8345. Confirmation of the development of the decline will be a breakdown of the support area and closing prices below the level of 0.7335.
AUD/USD Forecast and Weekly Analysis January 25 — 29, 2021 suggests an attempt to develop a bullish correction and test the level of 0.7755. Further, the continuation of the fall of the currency pair below the level of 0.6545. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair in the current trading week. Cancellation of the fall option will be a strong growth and a breakdown of the 0.7995 area. This will indicate a breakdown of the resistance area and continued growth of the pair with a target above 0.8345.
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