Currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of strong growth and the beginning of the development of the «Triangle» model. Moving averages indicate a short-term bearish trend. At the time of the publication of the forecast, the Australian Dollar to US Dollar rate is 0.6816. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.6765. Further, a rebound from the support level and continued growth of quotations to the area above 0.6975.
AUD/USD Forecast Australian Dollar September 6, 2019
An additional signal in favor of the growth of the AUD/USD pair will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the «Triangle» model. Cancellation of the growth option for the Australian Dollar quotes will be a fall and a breakdown of the level of 0.6690. This will indicate a breakdown of the support area and continued fall of AUD/USD at Forex with a potential target below the level of 0.6550. Expect confirmation of the growth of the pair is with a breakdown of the upper boundary of the downward channel and closing quotes above the level of 0.6905.
AUD/USD Forecast Australian Dollar September 6, 2019 suggests an attempt to test the support level near the area of 0.6765. Further, the continued growth of the pair quotes above the level near the level of 0.6975. An additional signal in favor of raising the pair will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 0.6690. This will indicate a continued fall in quotations with a potential target below the level of 0.6550.
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