Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of the formation of the bearish model «Wolfe Wave». At the moment, we should expect the test of the resistance area test near the level of 0.7580 and the continuation of the fall of quotations in the area below the level of 0.7410.
AUD/USD forecast & technical analysis May 25, 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 0.7640, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7750. To expect confirmation of the development of the fall on the pair is with the breakdown of the bullish trend line and the closing of quotations below the area of 0.7480.
AUD/USD forecast & technical analysis May 25, 2018 suggests an attempt to test the upper border of the channel near the 0.7580 area and the continuation of the fall of 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 0.7640.
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