Currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of growth and a bullish channel. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the currency pair and a potential continuation of the growth in the value of the instrument already from current levels. At the time of the publication of the forecast, the Australian Dollar exchange rate against the US Dollar is 0.7630. At the moment, we should expect an attempt to develop a correction of the pair and a test of the support area near the level of 0.7555. Further, a rebound upwards and continued growth of quotations to the area above the level of 0.7765.
AUD/USD Forecast Australian Dollar April 6, 2022
An additional signal in favor of the rise of the AUD/USD currency pair will be a rebound from the support line on the relative strength index (RSI). The second signal will be from the lower border of the bullish channel. Cancellation of the option to raise the quotes of the Australian Dollar on Forex will be a fall in prices and a breakdown of the level of 0.7485. This will indicate a breakdown of the support area and a continuation of the fall of the AUD/USD currency pair with a potential target below the level of 0.7305. It is worth waiting for confirmation of the rise of the pair with a breakdown of the resistance area and closing of quotes above the level of 0.7705, which will indicate a breakdown of the upper limit of the bullish channel.
AUD/USD Forecast Australian Dollar April 6, 2022 suggests an attempt to test the resistance level near the 0.7555 area. Further, the pair quotes continue to fall below the level of 0.7765. An additional signal in favor of the pair’s decline 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 a breakdown of the 0.7485 area. This will indicate a continuation of the rise in quotes with a potential target above the level of 0.7305.
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