Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the 0.7161 area. The pair continues to move within the fall. Moving averages indicate a bearish trend. At the moment, we can expect an attempt to test growth and the resistance area near the level of 0.7285. Then the continuation of the fall of AUD/USD with a potential target below the level of 0.6825.
AUD/USD weekly forecast & analysis December 17 — 21, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the fall of the pair on Forex. Cancellation of the option to reduce AUD/USD in the current trading week from December 17 — 21, 2018 will be a strong growth and a breakdown of the level of 0.7580. This will indicate a breakdown of the upper boundary of the downward channel and the continued growth of the Australian Dollar on FOREX. Confirmation of the downward trend will be the breakdown of the support area and the closure below 0.7085.
Among the important news from Australia that may have an impact on the Australian course, it is worth highlighting: Unemployment rate, Changes in the number of employees.
AUD/USD weekly forecast & analysis December 17 — 21, 2018 implies an attempt to test the level 0.7285. Further, the continuation of the fall below the level of 0.6825. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair. Cancellation of the fall will be a strong growth and the breakdown of 0.7580. This will indicate a breakdown of the resistance area and continued growth of the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
