The AUD/USD currency pair continues to move within the growth and formation of the reversal pattern “Head and Shoulders”. The moving averages indicate the presence of a short-term bearish 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 0.6318. At the moment, we should expect an attempt to develop an increase and test the resistance area near the level of 0.6355. Then, a price rebound downwards and a continuation of the fall in quotes to the area below the level of 0.6235.
Australian Dollar Forecast for March 26, 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 reversal pattern “Head and Shoulders”. The scenario with the fall of the Australian Dollar quotes on Forex will be cancelled by a strong price growth and a breakout of the 0.6405 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 0.6635 level. Confirmation of the pair’s fall should be expected with a breakout of the support area and closing of quotes below the 0.6235 level, which will indicate a breakout of the lower border of the Head and Shoulders reversal pattern and the beginning of the pattern implementation with targets below.
Australian Dollar Forecast for March 26, 2025 suggests an attempt to test the resistance level near the 0.6355 area. Further, the continuation of the fall of the pair’s quotes below the 0.6235 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 cancellation of the fall option will be a strong increase in AUD/USD quotes and a breakout of the 0.6405 area. This will indicate a continuation of the rise in quotes with a potential target above the 0.6635 level.
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