Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of the «Triangle» model development. At the time of publication of the forecast, the Australian Dollar to the US Dollar rate is 0.7209. At the moment, we should expect an attempt to test the lower limit of the «Triangle» model near the level of 0.7270 and continue falling of quotations in the area below the level of 0.7050.
AUD/USD forecast & technical analysis September 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). The cancellation of the variant of the Australian Dollar price fall will be a strong growth and a breakdown at the level of 0.7370, which will indicate the breakdown of the upper limit of the bearish channel and the continued growth of AUD/USD on Forex with a target above 0.7530. Expect to accelerate the development of the bearish trend for the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7180.
Follow important Australian news that may have an impact on the rate of the AUD/USD pair: the Reserve Bank of Australia’s decision on the basic interest rate, the Covering Statement of the Reserve Bank of Australia.
AUD/USD forecast & technical analysis September 4, 2018 involves an attempt to test the resistance level near the area of 0.7270 and the continuation of the fall of quotations of the pair below the level of 0.7050, an additional signal in favor of the fall of the pair will be a trend line test on the relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
