Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish trend of «Wolfe Wave». At the time of publication of the forecast, the Australian dollar to the US Dollar is 0.7477. At the moment, we should expect a test of the resistance area near the level of 0.7495 and the continuation of the drop in quotations in the area below the level of 0.7370 as part of the model’s development.
AUD/USD forecast & technical analysis July 10, 2018
In favor of the fall of the pair AUD/USD, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the drop in the Australian Dollar quotes will result in a strong growth and a breakdown at the level of 0.7510, which will indicate the breakdown of the upper «Wolfe Wave» model and the continued growth of AUD/USD on Forex with a target above 0.7590. To expect confirmation of the development of the bearish trend for the pair is with the breakdown of the upward trend line on the indicator of relative strength index (RSI) and the closing of quotations below the level of 0.7435.
AUD/USD forecast & technical analysis July 10, 2018 suggests a test of the resistance level near the area of 0.7495 and the continuation of the drop in quotations below the level of 0.7370, an additional signal in favor of the fall of the pair will be a trend line test on the relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
