Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the correction. At the moment, we should expect an attempt to test the resistance area near the level of 0.7895 and continue falling quotations in the area below the level of 0.7710. In favor of the fall of the AUD/USD pair, a resistance line test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the bearish channel.
AUD/USD forecast & technical analysis February 27, 2018
The cancellation of the drop in the AUD/USD quotations will result in a strong growth and breakdown at the level of 0.7990, which will indicate a breakdown in resistance and the continuation of AUD/USD growth on FOREX with a target above 0.8080. To expect confirmation of the development of the bearish trend for the pair is with the breakdown of the support level and the closing of quotations below 0.7760.
AUD/USD forecast & technical analysis February 27, 2018 suggests an attempt to test the resistance level near the area of 0.7895 and the continuation of falling quotes below the level of 0.7710 as part of the development of the «Head and Shoulders» model, an additional signal in favor of the fall of the pair will test the trend line at indicator of relative strength index (RSI), the abolition of the decline will be a breakdown of the area of 0.7990.
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