Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of Triangle model development. At the time of publication of the forecast, the Australian Dollar to the US Dollar rate is 0.7181. At this point, we should expect an attempt to test the resistance area near the level of 0.7220 and continue falling quotations in the area below the level of 0.7060.
AUD/USD forecast & technical analysis September 5, 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 quotes will result in a strong growth and breakdown at the level of 0.7265, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7350. Expect to accelerate the development of the downward trend for the pair is with the breakdown of the support area and the closing of quotations below the level of 0.7140.
AUD/USD forecast & technical analysis September 5, 2018 suggests a test of the resistance level near the area of 0.7220 and the continuation of the fall of quotations of the pair below the level of 0.7060, an additional signal in favor of the fall of the pair will be a trend line test on the indicator of relative strength index (RSI), there will be strong growth and breakdown of the area of 0.7265, which will indicate the continued growth.
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