Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.7206. 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. At the current trading week is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 0.7175. Where should we expect an attempt to rebound and continue to grow with a goal near the level of 0.7425.
FOREX weekly forecast AUD/USD December 10 — 14, 2018
An additional signal in favor of the growth of the pair AUD/USD will be the test of the support area. As well as a rebound from the lower boundary of the rising channel. Earlier, a weak signal was received for BUY the Australian Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.7155.
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 0.7100 area. 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 resistance area and closing above the 0.7300 area.
FOREX weekly forecast AUD/USD December 10 — 14, 2018 suggests an attempt to develop a correction to the level of 0.7175. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 0.7425. In favor of growth will test the upper limit of the downward channel. The cancellation of the growth of the currency pair will be a breakdown of the 0.7100 area. In this case, we should expect the continuation of the fall and a possible change in the current trend.