Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the upward correction and the upward channel. Moving averages indicate a short-term uptrend. As you can see, the correction for the pair was delayed, but the technical analysis of the daily chart indicates a high probability of falling in the near future. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7160. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.7190. Further, the rebound from the resistance level and the continuation of the fall of quotations to the area below 0.7080.
AUD/USD Forecast Australian Dollar April 19, 2019
In favor of the fall of the pair AUD/USD will test the downward trend line on the indicator of relative strength index (RSI). The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option to reduce the quotes of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7230. This will indicate a breakdown of resistance and continued growth of AUD/USD at Forex with a potential target above the level of 0.7325. Waiting for confirmation of the pair falling is with the breakdown of the lower boundary of the ascending channel and closing of quotes below the level of 0.7115.
AUD/USD Forecast Australian Dollar April 19, 2019 suggests an attempt to test the resistance level near the 0.7190 area. Further, the continuation of the fall in quotations of the pair below the level near the level of 0.7080. An additional signal in favor of reducing the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 0.7230 area. This will indicate a continued rise in quotes with a potential target above the level of 0.7295.
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