Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7103 and continues to move within the correction. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend for the pair Australian Dollar/US Dollar. As part of the Australian Dollar Forecast AUD/USD March 20, 2019. Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 0.7065. Where should we expect an attempt to rebound and the continued growth of the currency pair. The target of such a pair movement on Forex is the area near the level of 0.7185.
Australian Dollar Forecast AUD/USD March 20, 2019
An additional signal in favor of the growth of the currency pair AUD/USD at Forex will be a test of the support area. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY of the Australian Dollar/US Dollar. The signal was formed due to the intersection of signal lines at the level of 0.7040.
Cancellation of the option of raising the AUD/USD pair quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud. The reversal will be confirmed by closing of quotes below the area of 0.7035. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair. Expect acceleration of growth of quotations AUD/USD stands with the breakdown of the upper boundary of the downward channel and closing above the level of 0.7130.
Australian Dollar Forecast AUD/USD March 20, 2019 implies an attempt to test the support level near the 0.7065 area. Where can we expect to continue the growth of the currency pair with a potential target near the level of 0.7185. The cancellation of the lifting option will be a breakdown of the 0.7035 area. This will indicate a continued decline in the currency pair on Forex.