Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.7196. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, indicating a downward 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 0.7210, 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 0.6925.
FOREX weekly forecast AUD/USD November 5 — 9, 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 downward 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 closure below 0.7055.
FOREX weekly forecast AUD/USD November 5 — 9, 2018 suggests an attempt to develop an upward correction to the level of 0.7210, where a rebound is expected and the pair will continue to fall with a potential target near the level of 0.6925, the lower limit of the downward channel will be lower, 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.