Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the bearish channel. At the moment, we should expect an attempt to test the resistance area near the level of 0.7540 and the continuation of falling quotations in the area below the level of 0.7400.
AUD/USD forecast & technical analysis May 4, 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). Cancellation option quotations Australian Dollar drop becomes strong rise, and the breakdown level 0.7570, that points to the sample top of the channel and continued growth AUD/USD the target above the level of 0.7680. To expect confirmation of the development of the fall on the pair is with the breakdown of the support level and the closing of quotations below the area of 0.7470.
AUD/USD forecast & technical analysis May 4, 2018 suggests an attempt to test the resistance level near the area of 0.7540 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).
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