Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of strong growth. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7191. At the moment, we should expect an attempt to test the support area near the level of 0.7160 and the continued growth of quotations in the area above the level of 0.7310.
AUD/USD forecast Australian Dollar November 6, 2018
A test of the support line on the relative strength index (RSI) will be in favor of the AUD/USD pair growth. Cancellation of the growth of quotations of the Australian Dollar will fall and the breakdown level of 0.7100, which will indicate a breakdown of the lower boundary of the rising channel and the continuation of falling AUD/USD on Forex with a potential target below 0.7025. Expect to accelerate the development of growth in the pair stands with the breakdown of the resistance area and closing quotes above the level of 0.7275.
Among the important news from Australia that may affect the rate of the pair AUD/USD, it is worth highlighting: The decision of the Reserve Bank of Australia on the basic interest rate, the accompanying statement of the RBA.
AUD/USD forecast Australian Dollar November 6, 2018 suggests an attempt to test the support level near 0.7160 and continued growth of the pair’s quotes above 0.7310, an additional signal in favor of the pair’s growth will be a test of the trend line on the relative strength index (RSI).