Currency pair Australian Dollar to US Dollar AUD/USD continues to move in decline. At the time of the publication of the forecast, the Australian Dollar to the US Dollar is 0.7199. At the moment, we should expect an attempt to grow and test the lower boundary of the rising channel near the level of 0.7210. Further, the continuation of the fall of quotations to the area below the level of 0.7015.
AUD/USD Forecast Australian Dollar January 16, 2019
In favor of reducing the pair AUD/USD, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling quotes of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7265. This will indicate a breakdown of the upper boundary of the channel and continued growth of AUD/USD in FOREX with a potential target above the level of 0.7355. The pair is expected to accelerate the fall with the breakdown of the support area and closing of quotes below the level of 0.7155.
AUD/USD Forecast Australian Dollar January 16, 2019 suggests an attempt to test the resistance level near the 0.7210 area. Further, the continuation of the decline in quotations of the pair below the level of 0.7015. 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 0.7265. This will indicate continued growth in quotes.