Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction and the downward channel. At the time of the publication of the forecast, the Australian Dollar to US dollar rate is 0.7166. At the moment, we should expect an attempt to grow and test the upper limit of the «Triangle» model near the level of 0.7195. Further, the continuation of the fall of quotations to the area below the level of 0.6995.
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 0.7245. This will indicate a breakdown of the upper limit of the model and continued growth of AUD/USD at FOREX with a potential target above the level of 0.7355. Expect to accelerate the fall of the pair is with the breakdown of the support area and closing quotes below the level of 0.7105.
AUD/USD Forecast Australian Dollar January 22, 2019 suggests an attempt to test the resistance level near the 0.7195 area. Further, the continuation of the decline in quotations of the pair below the level of 0.6995. 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 option reduction will be a strong growth and the breakdown of 0.7245. This will indicate continued growth of quotes with a potential target above the level of 0.7355.