Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7677. 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 test area of Ichimoku Kinko Hyo signal lines near the level of 0.7705 is expected, from which it is expected to attempt a rebound and further develop the bearish trend with a target to falling near the level of 0.7590.
Australian Dollar forecast AUD/USD on November 1, 2017
An additional signal in favor of the fall is the resistance level test. Earlier, a medium strength signal was received for the sell of the Australian Dollar/US Dollar, due to the crossing of the signal lines at the level of 0.7835. 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 0.7765, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations AUD/USD is with the breakdown of the level of 0.7610.
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