Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7136 and continues to move as part of the fall. The pair is trading below the bottom of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in the Australian Dollar/US Dollar. As part of the Forex forecast for April 24, 2019. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.7150. Where should we expect an attempt to rebound and the continuation of the fall of the currency pair. The purpose of such a pair movement in Forex is the area near the level of 0.7065.
Australian Dollar Forecast AUD/USD April 24, 2019
An additional signal in favor of reducing the AUD/USD currency pair at FOREX will be a test of the resistance area. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for SELL the Australian Dollar/US Dollar. The signal was formed due to the intersection of signal lines at the level of 0.7165.
Canceling the option of falling quotations of the pair AUD/USD will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud. The reversal is confirmed by closing of quotes above the 0.7195 area. This option will indicate a change in the downward trend in favor of the upward trend and continued growth of the pair. Expect to accelerate the fall in quotations AUD/USD stands with the breakdown of the support area and closing below the level of 0.7105.
Australian Dollar Forecast AUD/USD April 24, 2019 implies an attempt to test the resistance level near the 0.7150 area. Where can we expect to continue the fall of the currency pair with a potential target near the level of 0.7065. Cancellation of the fall option will be a breakdown of the 0.7195 area. This will indicate continued growth in the currency pair on Forex with a target above the 0.7305 area.
