Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish trend and the bearish 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 a test of the resistance area near the level of 0.7400 and the continuation of the fall of quotations in the area below the level of 0.7300.
AUD/USD forecast & technical analysis July 6, 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 variant of the Australian Dollar price fall will be a strong growth and breakdown at the level of 0.7435, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of 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 0.7270.
AUD/USD forecast & technical analysis July 6, 2018 suggests a test of the resistance level near the area of 0.7400 and the continuation of the drop of quotations below the level of 0.7300, 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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