Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the level of 0.7092. 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. In the current trading week, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 0.7055. Where should we expect an attempt to rebound and continue to grow with a goal near the level of 0.7495.
FOREX weekly forecast AUD/USD March 4 — 8, 2019
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 border of the model «Triangle». Earlier, a weak signal was received for SELL of the Australian Dollar USD. The signal was formed due to the intersection of signal lines at the level of 0.7175.
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 quotes below the area of 0.6995. 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 growth confirmation is waiting for the breakout of the upper boundary of the «Triangle» model and closing above the 0.7265 area.
FOREX weekly forecast AUD/USD March 4 — 8, 2019 involves an attempt to develop a correction to the level of 0.7055. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 0.7495. A test of the support level will be in favor of the rise. The cancellation of the growth of the currency pair will be a breakdown of the area of 0.6995. In this case, we should expect the continuation of the fall and a possible change in the current trend.