Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7546. The pair continues to move in a bearish trend. At this point, we should expect an attempt to test the upper border of the channel near the area of 0.7650 and continue the fall of AUD/USD with a target below 0.7220.
AUD/USD weekly forecast May 14 — 18, 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 upper border of the channel and the continued growth of the Australian Dollar in Forex. A confirmation of the bearish trend development will be the breakdown of the support area and the closure below the level of 0.7350, which will indicate the breakdown of the lower boundary of the bullish channel.
AUD/USD weekly forecast May 14 — 18, 2018 requires the level of the test attempt 0.7650 and continuation of falling below the level of 0.7220, in favor of falling of pair will perform the test bearish trend line on the indicator of relative strength index (RSI), the cancellation option fall will be strong growth and a break area 0.7750, which indicates the breakdown of the upper border of the channel and the continued growth of the pair.