Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish channel. At the time of publication of the forecast, the rate of the Australian Dollar against the US dollar is 0.7170. At the moment, we should expect an attempt to test the resistance area near the level of 0.7195 and continue falling quotations in the area below the level of 0.7060.
AUD/USD forecast Australian Dollar September 18, 2018
In favor of the fall of the AUD/USD pair, a resistance area test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the bearish channel. The cancellation of the drop in the Australian Dollar quotes will result in a strong growth and breakdown at the level of 0.7245, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7355. Expect to accelerate the development of the bearish trend for the pair is with the breakdown of the nearest support area and the closing of quotations below the level of 0.7145.
Among the important news from Australia, which may affect the rate of the AUD/USD pair, it is worth highlighting: Protocol of the RBA meeting on monetary policy.
AUD/USD forecast Australian Dollar September 18, 2018 suggests an attempt to test the resistance level near the area of 0.7195 and the continuation of the fall of quotations of the pair below the level of 0.7060, an additional signal in favor of the fall of the pair will be a trend line test on the indicator of relative strength index (RSI).
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