Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7580. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the lower border of the channel near the area of 0.7650 and continue the fall of AUD/USD with a target below 0.7250.
AUD/USD weekly forecast April 30 — May 4, 2018
In favor of the fall, a trendline 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 0.7750, which will indicate the breakdown of the lower border of the bullish channel and the continued growth of the Australian Dollar. A confirmation of the development of the bearish trend will be the breakdown of the support area and the closure below the level of 0.7500.
AUD/USD weekly forecast April 30 — May 4, 2018 suggests a test of the level of 0.7770 and continuation of the fall below the level of 0.7410, in favor of the fall of the pair, a downtrend test on the relative strength index (RSI) will perform, area 0.7750, which indicates the breakdown of the lower boundary of the channel and the continued growth of the pair.
