Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish channel. Moving averages indicate a lateral trend. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7096. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.7120. Further, the continuation of the fall of quotations in the area below the level of 0.6985.
AUD/USD Forecast Australian Dollar March 20, 2019
In favor of the fall of the pair AUD/USD, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the descending channel. Cancellation of the option to reduce the quotes of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7160. This will indicate a breakdown of resistance and continued growth of AUD/USD at Forex with a potential target above the level of 0.7275. It is necessary to wait for the acceleration of the fall of the pair with the breakdown of the lower boundary of the bullish channel and the closing of quotations below the level of 0.7055.
AUD/USD Forecast Australian Dollar March 20, 2019 suggests an attempt to test the resistance level near the 0.7120 area. Further, the continuation of the fall in quotations of the pair below the level near the level of 0.6985. An additional signal in favor of reducing the pair will be the test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 0.7160 area. This will indicate a continued rise in quotes with a potential target above the level of 0.7275.
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