Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7093 and continues to move as part of the decline. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates a downward trend in the Australian Dollar US Dollar. As part of the Australian Dollar Forecast AUD/USD March 1, 2019. The test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.7120. Where should we expect an attempt to rebound and the continuation of the fall of the currency pair. The target of such a pair movement on Forex is the area near the level of 0.6990.
Australian Dollar Forecast AUD/USD March 1, 2019
An additional signal in favor of the fall of 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 of the Australian Dollar/US Dollar. The signal was formed due to the crossing of signal lines at the level of 0.7140.
Canceling the option of falling quotes of the AUD/USD pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud. The reversal will be confirmed by closing of quotations above the area of 0.7165. 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 decline of quotations AUD/USD stands with the breakdown of the support area and closing below 0.7050.
Australian Dollar Forecast AUD/USD March 1, 2019 implies an attempt to test the resistance level near the 0.7120 area. Where can we expect the continuation of the fall of the currency pair with a potential target near the level of 0.6990. Cancellation of the reduction option will be a breakdown of the 0.7165 area. This will indicate the continuation of the rise of the currency pair on Forex.