Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of a bullish correction. At the time of publication of the forecast, the rate of the Australian Dollar against the US Dollar is 0.7399. At the moment, we should expect a test of the resistance area near the level of 0.7425 and the continuation of the fall of quotations in the area below the level of 0.7280.
AUD/USD forecast & technical analysis July 24, 2018
In favor of the fall of the pair AUD/USD will make the formation of the reversal model «Head and Shoulders» 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 0.7455, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7580. To expect confirmation of the development of the downward trend for the pair is with the breakdown of the lower border of the bullish channel and the closing of quotations below the level of 0.7355.
AUD/USD forecast & technical analysis July 24, 2018 suggests a test of the resistance level near the area of 0.7425 and the continuation of the fall of the pair’s quotes below the level of 0.7280, an additional signal in favor of the fall of the pair will be the formation of a reversal model on the indicator of relative strength index (RSI).
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