The AUD/USD currency pair continues to move within the growth and has left the descending channel. The moving averages indicate the presence of a short-term upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the currency pair and a potential continuation of the growth of the instrument from the current levels. At the time of publication of the forecast, the Australian Dollar to the US Dollar exchange rate is 0.6406. At the moment, we should expect an attempt to develop a fall and a test of the support area near the level of 0.6255. Then, the price will bounce upwards and continue to grow quotes to the area above the level of 0.6645.
Australian Dollar Forecast for April 24, 2025
An additional signal in favor of the growth of the AUD/USD currency pair will be a rebound from the support line on the relative strength indicator (RSI). The second signal in favor of this scenario will be a rebound from the upper border of the descending channel. The scenario with the rise of the Australian Dollar quotes on Forex will be cancelled if the price falls and the level of 0.6205 is broken. This will indicate a breakout of the support area and a continuation of the fall of the AUD/USD currency pair with a potential target below the level of 0.6025. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and closing of quotes above the level of 0.6645.
Australian Dollar Forecast for April 24, 2025 suggests an attempt to test the support level near the area of 0.6255. Further, the continuation of the growth of the pair’s quotes above the level of 0.6645. An additional signal in favor of the growth of the pair will be a test of the trend line on the relative strength indicator. The scenario with the rise will be cancelled if the AUD/USD quotes fall and the area of 0.6205 is broken. This will indicate a continuation of the decline in quotes with a potential target below the level of 0.6025.
