Currency pair Australian Dollar to US Dollar AUD/USD continues to move in frames of the fall. Moving averages indicate a short-term bearish 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 0.6960. Further, a rebound from the resistance level and the continuation of the fall in quotations to the area below 0.6765.
AUD/USD Forecast Australian Dollar July 31, 2019
In favor of reducing 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 quotes of the Australian Dollar will be the fall and the breakdown level of 0.7015. This will indicate a breakdown of the lower boundary of the channel and continued growth of AUD/USD in FOREX with a potential target above the level of 0.7145. Waiting for confirmation of the pair’s fall is with the breakdown of the support area and closing of quotes below the level of 0.6845.
AUD/USD Forecast Australian Dollar July 31, 2019 implies an attempt to test the resistance level near the 0.6960 area. Further, the continuation of the fall in the pair quotes below the level near the level of 0.6765. An additional signal in favor of reducing the pair will be a test of the trend line on the relative strength indicator. Cancellation of the fall option will be a strong growth and the breakdown of the 0.7015 area. This will indicate continued growth of quotes with a potential target above the level of 0.7145.
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