Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7760. The pair continues to move within the bearish channel. At the moment, we should expect an attempt to test the upper border of the channel near the area of 0.7870 and continue the fall of AUD/USD with a target below 0.7550.
AUD/USD weekly forecast April 16 — 20, 2018
In favor of the drop, a resistance area test will be performed on the relative strength index (RSI). The cancellation of the AUD/USD fall will result in a strong growth and breakdown at the level of 0.7950, which will indicate the breakdown of the upper border of the bullish channel and the continued growth of the Australian Dollar in Forex. Confirmation of the development of the bearish trend will break through the lower boundary of the bullish channel and close below the level of 0.7510.
AUD/USD weekly forecast April 16 — 20, 2018 assumes a test of the level of 0.7870 and continuation of the fall below the level of 0.7550, in favor of the fall of the pair, the resistance area test will be performed on the relative strength index (RSI), the dropping of the fall variant will be a strong growth and breakdown of the area of 0.7950, which indicates the breakdown of the upper boundary of the channel and the continued growth of the pair.