AUD/USD forecast & technical analysis May 23, 2018


Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of a bullish correction. At the moment, we should expect an attempt to test the resistance area near the level of 0.7620 and the continuation of falling quotations in the area below the level of 0.7345 as part of the start-up of the bearish model of the Wolff Wave.

AUD/USD forecast & technical analysis May 23, 2018

In favor of the fall of the pair AUD/USD, a breakdown of the trend line will appear on the indicator of relative strength index (RSI). The cancellation of the drop in the Australian Dollar quotations will result in a strong growth and breakdown at the level of 0.7675, which will indicate the breakdown of the resistance area and the continued growth of AUD/USD on Forex with a target above 0.7750. To expect confirmation of the development of the fall on the pair is with the breakdown of the support area and the closing of quotations below the area of ​​0.7500.

AUD/USD forecast & technical analysis May 23, 2018

AUD/USD forecast & technical analysis May 23, 2018 suggests an attempt to test the upper border of the channel near the area of ​​0.7620 and the continuation of falling quotes below the level of 0.7345, an additional signal in favor of the fall of the pair will test the trend line on the indicator of relative strength index (RSI).


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