Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7174. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the upper border of the channel near the area of 0.7260 and continue the fall of AUD/USD with a target below 0.6920.
AUD/USD weekly forecast & analysis September 10 — 14, 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), as well as the resistance level test on the price chart. The abolition of the AUD/USD decline option on the current trading week on September 10 — 14, 2018 will be a strong growth and breakdown at the level of 0.7370, which will indicate the breakdown of the upper border of the channel and the continued growth of the Australian Dollar to Forex. A confirmation of the development of the bearish trend will be the breakdown of the support line on the indicator of relative strength and the closing below the level of 0.7120.
Among the important news from Australia, which may have an impact on the Australian Dollar rate, it is worth highlighting: Unemployment rate, Change in the number of employed.
AUD/USD weekly forecast & analysis September 10 — 14, 2018 suggests a test of the level of 0.7260 and continuation of the fall below the level of 0.6920, in favor of the fall of the pair, a resistance line test will be performed on the indicator of relative strength index (RSI).
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