Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7799. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the pair Australian Dollar/US Dollar. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 0.7805, from which it is expected to attempt a rebound and further development of the bearish trend with the target of falling near the level of 0.7675.
Australian Dollar forecast AUD/USD on March 8, 2018
An additional signal in favor of the fall of the pair is the test of the upper boundary of the bearish channel. Earlier, we received a weak signal for buy of the pair Australian Dollar/US Dollar, due to the crossing of signal lines at the level of 0.7785.
The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 0.7840, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of the fall in quotations AUD/USD is with the breakdown of the support area and closing below the level of 0.7740.
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