The AUD/USD currency pair continues to move within the growth and formation of the reversal model “Head and Shoulders”. The moving averages indicate the presence of a short-term upward trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers 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 the US Dollar rate is 0.6312. At the moment, we should expect an attempt to develop an increase and a test of the resistance area near the level of 0.6345. Then, a downward price rebound and a continuation of the fall in quotes to the area below the level of 0.6175.
Australian Dollar Forecast for February 27, 2025
An additional signal in favor of the fall of the AUD/USD currency pair will be a rebound from the resistance 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 a fall in the Australian Dollar quotes on Forex will be cancelled by a strong price growth and a breakout of the 0.6425 level. This will indicate a breakout of the resistance area and continued growth of the AUD/USD currency pair with a potential target above the 0.6675 level. Confirmation of the pair’s fall should be expected with a breakout of the support area and closing of quotes below the 0.6295 level.
Australian Dollar Forecast for February 27, 2025 suggests an attempt to test the resistance level near the 0.6345 area. Further, the continuation of the fall in the pair’s quotes below the 0.6175 level. An additional signal in favor of the pair’s decline will be a test of the trend line on the relative strength indicator. The scenario with a fall will be cancelled by a strong growth in the AUD/USD quotes and a breakout of the 0.6425 area. This will indicate a continuation of the rise in quotes with a potential target above the level of 0.6675.
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