Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the fall. At the time of the publication of the forecast, the Australian Dollar to the US dollar is 0.7216. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.7280. Further, the continuation of the fall of quotations to the area below the level of 0.7070 as part of the formation of the «Head and Shoulders» reversal pattern.
AUD/USD forecast Australian Dollar December 7, 2018
In favor of reducing the pair AUD/USD there will be a test of a broken trend line on the relative strength index (RSI). As well as a rebound from the lower boundary of the bullish channel. Cancellation of the option of falling quotations of the Australian Dollar will be a strong growth and the breakdown level of 0.7390. This will indicate breakdown of the resistance level and cancellation of the reversal pattern. Then, continued growth of AUD/USD at Forex with a potential target above the level of 0.7555. Expect to accelerate the fall of the pair stands with the breakdown of the support area and closing quotes below the level of 0.7175.
AUD/USD forecast Australian Dollar December 7, 2018 suggests an attempt to test the resistance level near the 0.7280 area. Further, the continuation of the fall of the pair quotes below the level of 0.7070. An additional signal in favor of reducing the pair will be the 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 0.7390 area. This will indicate a continued rise in quotations.