Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7375. The pair continues to move in a bearish trend. At the moment, we should expect a test of the support level test near the 0.7330 area and the beginning of the AUD/USD growth with a target above 0.7650 as part of the development of the bullish « Wolfe Wave» model.
AUD/USD weekly forecast July 2 — 6, 2018
In favor of growth, a test of the support area on the indicator of relative strength index (RSI) will perform. Cancellation of the AUD/USD growth option will be a fall and breakdown at the level of 0.7200, which will indicate the breakdown of the lower boundary of the model and the continuation of the fall of the Australian Dollar to Forex. A confirmation of the development of the bearish trend will be the breakdown of the support area and the closure below the level of 0.7450.
AUD/USD weekly forecast July 2 — 6, 2018 assumes a test of the level of 0.7330 and the beginning of growth above the level of 0.7650, in favor of an upward correction in the pair, a support area test will be performed on the relative strength index (RSI).
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