Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7293. The pair continues to move in a bearish trend. At the moment, we should expect an attempt to test the upper border of the channel near the area of 0.7395 and continue the fall of AUD/USD with a target below 0.7050.
AUD/USD weekly forecast & analysis August 13 — 17, 2018
In favor of the fall of the pair on Forex will test the downward trend line on the indicator of relative strength index (RSI). The cancellation of the AUD/USD decline option will result in a strong growth and breakdown at the level of 0.7470, which will indicate the breakdown of the upper border of the channel and the continued growth of the Australian Dollar in Forex. A confirmation of the development of the bearish trend will be the breakdown of the support area and the closure below the level of 0.7220.
AUD/USD weekly forecast & analysis August 13 — 17, 2018 assumes a test of the level of 0.7395 and the continuation of the fall below the level of 0.7050, in favor of the fall of the pair, a resistance line test will be performed on the relative strength index (RSI), the abolition of the decline option will be a strong growth and breakdown of the area of 0.7470, which indicates the breakdown of the upper boundary of the channel and the continued growth of the pair.