Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the correction and the formation of a bull pattern «Wolfe Wave». At the time of the publication of the forecast, the Australian Dollar to US dollar rate is 0.7029. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.7000. Further, the continuation of the growth of quotations in the area above the level of 0.7235.
AUD/USD Forecast Australian Dollar March 7, 2019
A test of the rising trend line on the relative strength index (RSI) will be in favor of raising the pair AUD/USD. The second signal will be the formation of the bullish model «Wolfe Wave”. Cancellation of the growth of quotations of the Australian Dollar will be the fall and the breakdown level of 0.6940. This will indicate a breakdown of support and the continuation of falling AUD/USD at FOREX with a potential target below the level of 0.6825. Expect the pair to accelerate growth with the breakdown of the resistance area and closing quotes above the level of 0.7095.
AUD/USD Forecast Australian Dollar March 7, 2019 suggests an attempt to test the support level near the 0.7000 area. Further, the continuation of the growth of quotations of the pair above the level near the level of 0.7235. An additional signal in favor of the rise of the pair will be the test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area of 0.6940. This will indicate a continued decline in quotations with a potential target below 0.6825.
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