Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.7079. The pair is trading inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a sideways trend for the Australian Dollar/US Dollar. In the current trading week, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.7115. Where should we expect an attempt to rebound and continue to fall with a target near the level of 0.6805.
FOREX weekly forecast AUD/USD March 25 — 29, 2019
An additional signal in favor of the fall of the pair AUD/USD will be the test of the resistance area. As well as a rebound from the upper boundary of the descending channel. Earlier, a weak signal was received for SELL the Australian Dollar/US Dollar. The signal was formed due to the intersection of signal lines at the level of 0.7175.
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 closing of quotes above the 0.7205 area. This will indicate a change in the downward trend in favor of the uptrend and continued growth of the pair this week. AUD/USD is expected to accelerate falling with the breakdown of the support area and closing below 0.6995.
FOREX weekly forecast AUD/USD March 25 — 29, 2019 suggests an attempt to develop a correction to the level of 0.7115. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 0.6805. In favor of the rise will perform the test of the resistance level. Cancellation of the fall of the currency pair will be a breakdown of the 0.7205 area. In this case, we should expect continued growth and a possible change in the current downward trend.