Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish channel. At the time of publication of the forecast, the Australian Dollar to the US Dollar rate is 0.7426. At the moment, we should expect an attempt to test the resistance area near the level of 0.7435 and the continuation of falling quotations in the area below the level of 0.7245.
AUD/USD forecast & technical analysis July 17, 2018
In favor of the fall of the pair AUD/USD will form a reversal model «Head and Shoulders» on the indicator of relative strength index (RSI). The cancellation of the drop in the Australian Dollar quotations will result in a strong growth and breakdown at the level of 0.7495, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7560. 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 July 17, 2018 suggests an attempt to test the resistance level near the area of 0.7425 and the continuation of the drop in quotations below the level of 0.7270, an additional signal in favor of the fall of the pair will be the trend line test on the relative strength index (RSI).
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