Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7395. 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 0.7430 and continue the fall of AUD/USD with a target below 0.7030.
AUD/USD weekly forecast & analysis August 6 — 10, 2018
In favor of the fall of the pair on Forex will test the bearish trend line on the indicator of relative strength index (RSI). The abolition of the AUD/USD decline option will be a strong growth and breakdown at the level of 0.7570, which will indicate the breakdown of the upper border of the channel and the continued growth of the Australian Dollar in Forex. Confirmation of the development of the bearish trend will break through the lower limit of the «Triangle» model and close below the level of 0.7300.
AUD/USD weekly forecast & analysis August 6 — 10, 2018 assumes a test of the 0.7430 level and the continuation of the fall below the level of 0.7030, in favor of the fall of the pair, a resistance line test will be performed on the relative strength index (RSI).