Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the decline and development of the «Triangle» model. At the moment, we should expect a test of the resistance area near the level of 0.7470 and the continuation of the fall of quotations in the area below the level of 0.7350.
AUD/USD forecast & technical analysis May 10, 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 0.7570, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7680. 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 area of 0.7400.
AUD/USD forecast & technical analysis May 10, 2018 suggests a test of the resistance level near the area of 0.7470 and the continuation of the drop in quotations below the level of 0.7350, an additional signal in favor of the fall of the pair will be a trend line test on the relative strength index (RSI).
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