Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7550. 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 0.7620 and continue the fall of AUD/USD with a target below 0.7205.
AUD/USD weekly forecast June 4 — 8, 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 0.7730, which will indicate the breakdown of the upper border of the channel and the continued growth of the Australian Dollar on 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 0.7370, which will indicate the breakdown of the lower boundary of the channel.
AUD/USD weekly forecast June 4 — 8, 2018 assumes a test of the level of 0.7620 and the continuation of the fall below the level of 0.7205, in favor of the fall of the pair, a downtrend test on the relative strength index (RSI) will perform.
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