Currency pair Australian Dollar to US Dollar AUD/USD continues to move within a strong bullish correction. At the time of publication of the forecast, the rate of the Australian Dollar to the US dollar is 0.7362. At this point, we should expect an attempt to test the resistance area near the level of 0.7385 and continue falling quotations in the area below the level of 0.7220.
AUD/USD forecast & technical analysis August 23, 2018
In favor of the fall of the AUD/USD pair, a resistance area test will be performed on the relative strength index (RSI). The cancellation of the variant of the Australian Dollar price fall will be a strong growth and breakdown at the level of 0.7440, which will indicate the breakdown of the upper limit of the descending channel and the continuation of the AUD/USD growth on Forex with a target above 0.7510. To expect confirmation of the development of the downward trend for the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7330.
AUD/USD forecast & technical analysis August 23, 2018 suggests an attempt to test the resistance level near the area of 0.7385 and the continuation of falling quotes of the pair below the level of 0.7220, an additional signal in favor of the fall of the pair will be a breakdown of the trend line on the indicator of relative strength index (RSI).
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