Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction. At the moment, we should expect a test of the resistance area near the level of 0.7780 and the continuation of the drop in quotations in the area below the level of 0.7600.
AUD/USD forecast & technical analysis April 17, 2018
In favor of the fall of the AUD/USD pair, a trend line test will be performed on the relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the drop in the Australian Dollar quotations will result in a strong growth and breakdown at the level of 0.7840, which will indicate the breakdown of the upper border of the channel and the continued growth of AUD/USD on Forex with a target above 0.8000. To expect confirmation of the development of the fall on the pair is with the breakdown of the support level and the closing of quotations below the area of 0.7740.
AUD/USD forecast & technical analysis April 17, 2018 suggests a test of the resistance level near the area of 0.7780 and the continuation of the drop in quotations below the level of 0.7600, an additional signal in favor of the fall of the pair will test the trend line on the indicator of relative strength index (RSI).