Currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of a fall and a descending channel. Sliding average indicate the presence of a short -term bear’s trend. Prices broke the area between the signal lines down, which indicates the pressure from the sellers of the currency pair and the potential continuation of the drop in the cost of the tool from current levels. At the time of publication of the forecast, the Australian dollar for the US dollar is 0.6979. At the moment, it is worth expecting an attempt to develop the growth of the pair and the test area near the level of 0.7050. Further, the rebound down and the continuation of the fall of the quotes to the area below the level of 0.6745.
AUD/USD Forecast Australian Dollar May 10, 2022
An additional signal in favor of reducing the AUD/USD currency pair will be a detective from the resistance line on the relative force indicator (RSI). The second signal will be from the upper boundary of the bear canal. The cancellation of the option of falling quotations of the Australian dollar on Forex will be a strong increase in prices and a breakdown of the level of 0.7205. This will indicate the breakdown of the resistance area and the continuation of the growth of the AUD/USD currency pair with a potential target above 0.7445. It is worth expecting confirmation of the fall of the couple with the breakdown of the support area and the closure of quotes below 0.6945.
AUD/USD Forecast Australian Dollar May 10, 2022 involves an attempt to test the resistance level near the area 0.7050. Further, the continuation of the fall of quotations of the pair below the level of 0.6745. An additional signal in favor of reducing the pair will be the test line of the trend on the relative force indicator. The cancellation of the fall option will be a strong growth and breakdown of the area 0.7205. This will indicate the continuation of the rise of the quotes with a potential goal above the level of 0.7445.
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