Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7228. 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 0.7350 and continue the fall of AUD/USD with a target below 0.6870.
AUD/USD weekly forecast & analysis September 3 — 7, 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 abolition of the AUD/USD decline option on the current trading week on September 3 — 7, 2018 will be a strong growth and a breakdown at the level of 0.7460, 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 index (RSI) and the closing below the level of 0.7170.
Among the important news from Australia that may have an impact on the Australian Dollar rate, it is worth highlighting: the Reserve Bank of Australia’s decision on the main interest rate, the RBA Statement of Conduct, the GDP volume change.
AUD/USD weekly forecast & analysis September 3 — 7, 2018 assumes a test of the 0.7350 level and the continuation of the fall below the level of 0.6870, in favor of the fall of the pair, a resistance line test will be performed on the relative strength index (RSI).
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