Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.7174. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for the pair Australian Dollar/US Dollar. The current trading week is expected to test the upper limit of the Ichimoku Kinko Hyo Cloud near the level of 0.7125. Where should we expect an attempt to rebound and continue to grow with a goal near the level of 0.7405.
FOREX weekly Forecast AUD/USD April 15 — 19, 2019
An additional signal in favor of raising the pair AUD/USD will be the test of the support area. Earlier, a signal of the middle of power was received for BUY the Australian Dollar/US Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.7135.
Cancellation of the growth of quotations of the pair AUD/USD will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 0.6985. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair this week. AUD/USD is expected to accelerate growth with the breakdown of the upper boundary of the downward channel and closing above the 0.7215 area.
FOREX weekly Forecast AUD/USD April 15 — 19, 2019 suggests an attempt to develop a correction to the level of 0.7125. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 0.7405. A test of the support level will be in favor of the rise. The cancellation of the growth of the currency pair will be the breakdown of the area of 0.6985. In this case, we should expect the continuation of the fall and a possible change in the current upward trend.