The currency pair Australian Dollar to US Dollar (AUDUSD) continues to move within the correction and the formation of the Head and Shoulders reversal pattern. The moving averages indicate the presence of a short-term bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers of the currency pair and a potential continuation of the fall in the value of the instrument from the current levels. At the time of publication of the forecast, the Australian Dollar to US Dollar exchange rate is 0.6365. At the moment, we should expect an attempt to develop a fall and a test of the support area near the level of 0.6335. Then, the price will bounce upward and continue to grow quotes to the area above the level of 0.6475.
Australian Dollar Forecast for February 18, 2025
An additional signal in favor of the rise 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 lower border of the bullish channel. The scenario with the growth of Australian Dollar quotes on Forex will be canceled by a price drop and a breakout of the 0.6265 level. This will indicate a breakout of the support area and a continuation of the decline of the AUD/USD currency pair with a potential target below the 0.5895 level. Confirmation of the pair’s growth should be expected with a breakout of the resistance area and closing of quotes above the 0.6405 level.
Australian Dollar Forecast for February 18, 2025 suggests an attempt to test the support level near the 0.6335 area. Further, the continuation of the pair’s growth above the 0.6475 level. An additional signal in favor of the pair’s rise will be a test of the trend line on the relative strength indicator. The cancellation of the growth scenario will be a fall in AUD/USD quotes and a breakout of the 0.6265 area. This will indicate a continuation of the decline in quotes with a potential target below the 0.5895 level.
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