The AUD/USD currency pair continues to move within the correction and bullish channel. The moving averages indicate the presence of a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the currency pair and potential continued growth 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 exchange rate is 0.6334. At the moment, we should expect an attempt to develop an increase and test the resistance area near the level of 0.6365. Then, a downward price rebound and a continuation of the fall in quotes to the area below the level of 0.6255.
Australian Dollar Forecast for March 20, 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 lower border of the bullish 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 0.6655 level. Confirmation of the pair’s fall should be expected with a breakout of the support area and closing of quotes below the 0.6305 level, which will indicate a breakout of the lower border of the bullish correction channel.
Australian Dollar Forecast for March 20, 2025 suggests an attempt to test the resistance level near the 0.6365 area. Further, the pair’s quotes will continue to fall below the 0.6255 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 0.6655.
