Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction. At the time of publication of the forecast, the Australian Dollar to the US Dollar rate is 0.7215. At the moment, we should expect an attempt to test the support area near the level of 0.7185 and continue the growth of quotations in the area above the level of 0.7295.
AUD/USD forecast Australian Dollar October 2, 2018
In favor of the growth of the pair AUD/USD will perform a test of the support line on the indicator of relative strength index (RSI). The cancellation of the variant of the Australian Dollar price growth will be the fall and breakdown at the level of 0.7155, which will indicate the breakdown of the support area and the continuation of the AUD/USD fall on the Forex with a potential target below the level of 0.7075. To expect confirmation of growth on the pair is with the breakdown of the upper border of the channel and the closing of quotations above the level of 0.7360.
Among the important news from Australia, which may affect the exchange rate of the AUD/USD pair, it is worth highlighting: The Reserve Bank of Australia’s decision on the basic interest rate, the accompanying statement.
AUD/USD forecast Australian Dollar October 2, 2018 assumes an attempt to test the support level near the area of 0.7185 and the continuation of the pair’s quotes rise above the level of 0.7295, an additional signal in favor of the pair’s growth will be a trend line test on the relative strength index (RSI).
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