Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.7212 and continues to move as part of growth. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates an uptrend for the Australian Dollar/US Dollar. As part of the AUD/USD forecast Australian Dollar November 6, 2018, the test area of the Ichimoku Kinko Hyo signal lines near the level of 0.7185 is expected. Where should we expect an attempt to rebound and continued growth of the pair with a target near the level of 0.7335.
AUD/USD forecast Australian Dollar November 6, 2018
An additional signal in favor of the growth of the currency pair AUD/USD at Forex will be a test of the support area, as well as a rebound from the lower boundary of the upward channel. Earlier, a weak signal was received for BUY the Australian Dollar, due to the intersection of signal lines at 0.7050.
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 0.7110 area. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair. AUD/USD is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 0.7275.
AUD/USD forecast Australian Dollar November 6, 2018 implies an attempt to test the support level near the 0.7185 area, from where we can expect the currency pair to continue to grow with a potential target near the 0.7335 level. Cancellation of the growth of the pair will be a breakdown of the 0.7110 area, which will indicate a continued decline.