Currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of the formation of the «Triangle» model. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.7149. At the moment, we should expect an attempt to test the resistance area near the level of 0.7205 and continue the fall of quotations to the area below the level of 0.7005.
AUD/USD forecast Australian Dollar October 4, 2018
In favor of the fall of the pair AUD/USD, a test of the resistance area on the relative strength index (RSI) will come out. Cancellation of the fall in quotations of the Australian Dollar will be a strong growth and the breakdown of the level of 0.7270, which will indicate a breakdown of the upper limit of the model and continued growth of AUD/USD on Forex with a potential target above the level of 0.7455. Expect confirmation of the development of the fall in the pair is with the breakdown of the lower boundary of the model «Triangle» and the closing of quotations below the level of 0.7100.
AUD/USD forecast Australian Dollar October 4, 2018 suggests an attempt to test the resistance level near 0.7205 and continue falling of the pair’s quotes below 0.7005, an additional signal in favor of reducing the pair will be a trend line test on the relative strength index (RSI), canceling there will be a strong growth and a breakdown of the 0.7270 area, which will indicate continued growth.
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