Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.7103. The pair is trading inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend for the Australian Dollar/US Dollar. The current trading week is expected to test the upper limit of Ichimoku Kinko Hyo Cloud near the level of 0.7125. Where should we expect an attempt to rebound and continue to fall with a goal near the level of 0.6775.
FOREX weekly forecast AUD/USD April 8 — 12, 2019
An additional signal in favor of the fall of the pair AUD/USD will be the test of the resistance area. As well as a rebound from the upper limit of the bearish channel. Earlier, a weak signal was received for sales of the Australian Dollar/US Dollar. The signal was formed due to the intersection of signal lines at the level of 0.7175.
Cancellation of the option of falling quotations of the pair AUD/USD will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the 0.7225 area. This will indicate a change in the side trend in favor of the ascending one and continued growth in the pair this week. Expect to accelerate the fall AUD/USD stands with the breakdown of the lower boundary of the cloud of the indicator and closing below 0.6965.
FOREX weekly forecast AUD/USD April 8 — 12, 2019 suggests an attempt to develop a correction to the level of 0.7125. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 0.6775. In favor of the rise will perform a test of the resistance level. Cancellation of the fall of the currency pair will be a breakdown of the 0.7225 area. In this case, we should expect continued growth and a possible change in the current downward trend.