Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of a bullish correction. At the moment, we should expect a test of the resistance area near the level of 0.7650 and the continuation of falling quotations in the area below the level of 0.7400.
AUD/USD forecast & technical analysis June 12, 2018
In favor of the fall of the pair AUD/USD will test the resistance line 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 breakdown at the level of 0.7710, which will indicate the breakdown of the upper border of the channel and the continued growth of AUD/USD on Forex with a target above 0.7850. To expect confirmation of the development of the fall on the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7550.
AUD/USD forecast & technical analysis June 12, 2018 suggests an attempt to test the upper border of the channel near the 0.7650 area and the continuation of the drop in quotations below the level of 0.7410, an additional signal in favor of the fall of the pair will be a trend line test on the relative strength index (RSI), there will be strong growth and breakdown of the area of 0.7710.
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