Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of growth and the formation of the «Triangle» model. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7267. At the moment, we should expect an attempt to test the support area near the level of 0.7235. And then the continuation of the growth of quotations in the area above the level of 0.7365.
AUD/USD forecast Australian Dollar November 16, 2018
A test of the support line on the relative strength index (RSI) will be in favor of the AUD/USD pair growth. As well as a test of the broken border of the bearish channel. Cancellation of the growth of quotations of the Australian Dollar will be the decline and the breakdown of the level of 0.7200. This will indicate a breakdown of the support area and the continuation of falling AUD/USD at Forex with a potential target below the level of 0.7105. Expect to accelerate the development of growth in the pair stands with the breakdown of the upper boundary of the model «Triangle» and the closure of quotations above the level of 0.7295.
AUD/USD forecast Australian Dollar November 16, 2018 suggests an attempt to test the support level near the 0.7235 area. Then, the growth of quotations of the pair above the level of 0.7365. An additional signal in favor of the pair growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of the pair will be the fall and the breakdown of the 0.7200 area. This will indicate a continued decline.