Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish trend and the descending channel. At the time of publication of the forecast, the exchange rate of the Australian Dollar to the US Dollar is 0.7382. At the moment, we should expect an attempt to test the resistance area near the level of 0.7390 and continue falling quotations in the area below the level of 0.7210.
AUD/USD forecast & technical analysis July 5, 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 quotations will result in a strong growth and breakdown at the level of 0.7440, which will indicate the breakdown of the upper limit of the bearish channel and the continuation of the AUD/USD growth on Forex with a target above 0.7550. To expect confirmation of the development of the downward trend for the pair is with the breakdown of the lower border of the channel and the closing of quotations below the level of 0.7260.
AUD/USD forecast & technical analysis July 5, 2018 suggests an attempt to test the resistance level near the area of 0.7390 and the continuation of the fall of quotations below the level of 0.7210.
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