Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the correction and the formation of the bull pattern «Wolfe Wave». At the time of the publication of the forecast, the Australian Dollar to US dollar rate is 0.7154. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.7185. Further, the continuation of the fall of quotations to the area below the level of 0.7035.
AUD/USD Forecast Australian Dollar February 21, 2019
In favor of reducing the pair AUD/USD, a test of the downward trend line on the relative strength index (RSI) will be performed. Cancellation of the fall in quotations of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7210. 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. It is necessary to wait for the acceleration of the fall of the pair with the breakdown of the lower boundary of the channel and closing of quotes below the level of 0.7110.
Among the important news from Australia that may affect the course of the pair AUD/USD, it is worth highlighting: The unemployment rate, the change in the number of employees.
AUD/USD Forecast Australian Dollar February 21, 2019 suggests an attempt to test the resistance level near the 0.7185 area. Further, the continuation of the fall in quotations of the pair below the level near the level of 0.7035. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the 0.7210 area. This will indicate a continued rise in quotes with a potential target above the level of 0.7325.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
