Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the Australian Dollar to the US Dollar rate is 0.7284. At the moment, we should expect an attempt to test the resistance area near the level of 0.7320 and continue falling quotations in the area below the level of 0.7180.
AUD/USD forecast & technical analysis August 31, 2018
In favor of the fall of the pair AUD/USD will perform a bearish trend test on the indicator of relative strength index (RSI). The cancellation of the variant of the Australian Dollar price fall will be a strong growth and a breakdown at the level of 0.7370, which will indicate the breakdown of the upper limit of the descending channel and the continued growth of AUD/USD on Forex with a target above 0.7530. To expect confirmation of the development of the downward trend for the pair is with the breakdown of the lower boundary of the «Triangle» model and the closing of quotations below the level of 0.7235.
AUD/USD forecast & technical analysis August 31, 2018 suggests a test of the resistance level near the area of 0.7320 and the continuation of the fall of quotes of the pair below the level of 0.7180, an additional signal in favor of the fall of the pair will test the resistance area on the indicator of relative strength index (RSI).
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