Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the fall and the bearish channel. At the time of the publication of the forecast, the Australian Dollar to the US Dollar is 0.7125. At the moment, we should expect an attempt to grow and test the upper boundary of the channel near the level of 0.7145. Further, the continuation of the fall of quotations in the area below the level of 0.7035.
AUD/USD Forecast Australian Dollar January 23, 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 fall in quotations of the Australian Dollar will be a strong growth and the breakdown level of 0.7200. This will indicate a breakdown of the upper boundary of the downward channel and continued growth of AUD/USD in FOREX with a potential target above the level of 0.7295. Expect to accelerate the fall of the pair is with the breakdown of the support area and closing quotes below the level of 0.7075.
AUD/USD Forecast Australian Dollar January 23, 2019 suggests an attempt to test the resistance level near the 0.7145 area. Further, the continuation of the decline in quotations of the pair is below 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 0.7200 area. This will indicate continued growth of quotes with a potential target above the level of 0.7295.