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 side trend. At the time of the publication of the forecast, the Australian Dollar to the US dollar is 0.6904. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.6945. Further, a rebound from the resistance level and the continuation of the fall of quotations to the area below 0.6780.
AUD/USD Forecast Australian Dollar July 30, 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 30, 2019 implies an attempt to test the resistance level near the 0.6945 area. Further, the continuation of the growth of quotations of the pair below the level near the level of 0.6780. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength indicator. Cancellation of the reduction option will be a strong growth and the breakdown of the area of 0.6895. This will indicate continued growth of quotes with a potential target above the level of 0.6975.
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