Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the area of 0.7073. The pair continues to move in decline. At the moment, we should expect an attempt to test the upper limit of the bearish channel near the level of 0.7270 and continue the decline of AUD/USD with the target below 0.6840.
AUD/USD weekly forecast & analysis October 8 — 12, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the pair falling on Forex. Cancellation of the option to reduce AUD/USD in the current trading week of October 8 — 12, 2018 will be a strong growth and a breakdown level of 0.7380, which will indicate a breakdown of the upper boundary of the channel and 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 0.6970.
AUD/USD weekly forecast & analysis October 8 — 12, 2018 implies an attempt to test the level of 0.7270 and continue to decline below 0.6840, an additional signal in favor of growth will be the support line test on the relative strength index (RSI).