Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the level of 0.7038. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the Australian Dollar/US Dollar. At the current trading week, the test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.7155, from where it is necessary to expect an attempt of a rebound and the continuation of the fall with a target near the level of 0.6835.
FOREX forecast AUD/USD October 29 — November 2, 2018
An additional signal in favor of the fall of the AUD/USD pair will be a test of the resistance area, as well as a rebound from the upper limit of the bearish channel. Earlier, a strong signal was received for the SELL of the Australian Dollar pair, due to the crossing of signal lines at 0.7220.
Canceling the option of falling quotations of the AUD/USD pair will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the close of quotes above the 0.7290 area, which will indicate a change in the downward trend in favor of the upward trend and continued growth of the pair this week. AUD/USD is expected to accelerate the fall with the breakdown of the support area and the close below 0.6980 area.
FOREX forecast AUD/USD October 29 — November 2, 2018 suggests an attempt to develop an upward correction to the level of 0.7155, where a rebound can be expected and the pair will continue to fall with a potential target near the level of 0.6835, the test of the upper limit of the bearish channel, canceling the option of a fall in the currency pair will be a breakdown of the 0.7290 area, in this case, we should expect continued growth and a possible change in the downward trend.
