Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the fall and the formation of the bearish model «5-0». Moving averages indicate a short-term bearish trend. At the time of the publication of the forecast, the Australian Dollar to the US dollar is 0.6885. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.6935. Further, a rebound from the resistance level and the continuation of the fall in quotations to the area below 0.6795.
AUD/USD Forecast Australian Dollar August 1, 2019
In favor of reducing the pair AUD/USD will test the downward resistance line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of raising the quotations of the Australian Dollar will be the fall and the breakdown level of 0.6980. This will indicate a breakdown of the lower boundary of the channel and continued growth of AUD/USD in FOREX with a potential target above the level of 0.7155. It is necessary to wait for confirmation of the pair’s fall with the breakdown of the support area and closing of quotes below the level of 0.6835.
AUD/USD Forecast Australian Dollar August 1, 2019 suggests an attempt to test the resistance level near the 0.6935 area. Further, the continuation of the fall of the pair quotes below the level near the level of 0.6795. An additional signal in favor of reducing the pair will be a test of the trend line on the relative strength indicator. Cancellation of the fall option will be a strong growth and the breakdown of 0.6980 area. This will indicate continued growth of quotes with a potential target above the level of 0.7155.
