Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the 0.7027 area. The pair continues to move in decline. At the moment, we should expect an attempt to test the upper limit of the downward channel near the level of 0.7180 and continue the decline of AUD/USD with the target below 0.6675.
AUD/USD weekly forecast October 29 — November 2, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the pair falling on Forex. Cancellation of the option to reduce AUD/USD in the current trading week of October 29 — November 2, 2018 will be a strong growth and a breakdown level of 0.7260, which will indicate a breakdown of the upper boundary of the channel and continued growth of the Australian Dollar on Forex. Confirmation of the downward trend will be the breakdown of the support area and the closure below 0.6950.
Among the important news from Australia, which may have an impact on the Australian course, it is worth highlighting: Consumer price index.
AUD/USD weekly forecast October 29 — November 2, 2018 involves an attempt to test the level of 0.7180 and continue to decline below 0.6675, a test of the trend line on the relative strength index (RSI) will act in favor of the pair, a strong growth will cancel the decline and the breakdown of 0.7260 that will indicate breakdown resistance and continued growth of the pair.