Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the 0.6686 area. The couple continues to move as part of the development of a fall and a long -term descending channel. Sliding average indicate the presence of a bear’s trend. Prices broke the area between the signal lines down, which indicates the pressure from the sellers of the asset and the potential continuation of the fall in the value of the currency pair. At the moment, it is worth expecting an attempt to develop bull correction and the test of the resistance area near the level of 0.6815. Then, the rebound and continuation of the fall/USD fall with a potential goal below 0.6005 in the foreign exchange market.
AUD/USD Forecast Weekly Forecast April 3 — 7, 2023
An additional signal in favor of the fall of the pair for Forex will be a composter from the upper boundary of the descending channel. The second signal will be the rebound from the descending line of the trend on the relative force indicator. The cancellation of the option of falling Aud/USD currency pair for the current trading week on April 3 — 7, 2023 will be a strong growth and a breakdown of the level 0.7105. This will indicate a breakdown of resistance and the continuation of the rise of the Australian dollar to Forex with a potential goal at 0.7375. Confirmation of the development of a decrease will be the breakdown of the support area and the closure of prices below the level of 0.6495.
Among the important news from Australia, which can affect the Australian course, it is worth highlighting: the decision of the Australian Bank of the interest rate (RBA) Interest Rate Decision.
AUD/USD Forecast Weekly Forecast April 3 — 7, 2023 involves an attempt to develop bull correction and level of level 0.6815. Next, the continuation of the reduction of the currency pair below the level of 0.6005. In favor of the fall of the couple for the current trade week, the test line of the trend on the Indicator indicator will perform. The cancellation of the decrease option will be a strong growth and breakdown of the area 0.7105. This will indicate the breakdown of the resistance area and the continuation of the growth of the pair with a goal above 0.7375.
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