Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction and the upward channel. Moving averages indicate a short-term bullish trend. At the time of the publication of the forecast, the Australian Dollar to US Dollar is 0.6960. At the moment, we should expect an attempt to fall and test the support area near the level of 0.6920. Further, the rebound from the level of support and the continuation of growth of quotations in the area above 0.7035.
AUD/USD Forecast Australian Dollar July 26, 2019
In favor of the growth of the pair AUD/USD will test the downward resistance line on the indicator of relative strength. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of raising the quotations of the Australian Dollar will be the fall and the breakdown level of 0.6895. This will indicate a breakdown of the lower boundary of the channel and a continued decline in AUD/USD at Forex with a potential target below the level of 0.6805. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of quotations above the level of 0.6975.
AUD/USD Forecast Australian Dollar July 26, 2019 suggests an attempt to test the support level near the 0.6920 area. Further, the continuation of the growth of quotations of the pair above the level near the level of 0.7035. An additional signal in favor of the rise of the pair will be the test of the trend line on the relative strength indicator. Cancellation of the growth option will be the fall and the breakdown of the area of 0.6895. This will indicate a continued decline in quotes with a potential target below the level of 0.6805.
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