Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the correction and the formation of a reversal pattern. Moving averages indicate an uptrend. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7103. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.7125. Further, the continuation of the fall of quotations in the area below the level of 0.6945.
AUD/USD Forecast Australian Dollar March 28, 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 the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option to reduce the quotes of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7180. This will indicate a breakdown of resistance and continued growth of AUD/USD at Forex with a potential target above the level of 0.7295. Expect to accelerate the fall of the pair stands with the breakdown of the support area and closing quotes below the level of 0.7045. This will indicate the completion of the formation of the «Head and Shoulders» reversal pattern.
AUD/USD Forecast Australian Dollar March 28, 2019 suggests an attempt to test the resistance level near the 0.7125 area. Further, the continuation of the fall in quotations of the pair below the level near the level of 0.6945. 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 0.7180. This will indicate a continued rise in quotes with a potential target above the level of 0.7295.
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