Australian Dollar US Dollar AUD/USD ends the trading week with growth near the level of 0.6487. The pair is trading below the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bearish trend for the Australian Dollar/US Dollar pair. In the current trading week, a correction is expected to develop and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator is expected near the level of 0.6545. Where can we expect an attempt to rebound downwards and continue the fall of the currency pair on the Forex market with a target near the level of 0.6145.
AUD/USD Forecast April 15 — 19, 2024
An additional signal in favor of a decline in the AUD/USD currency pair in the current trading week will be a test of the resistance area on the price chart. The second signal in favor of a decline will be a rebound from the upper border of the bearish channel. Previously, a signal of average strength was received for sales of the Australian Dollar/US Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6555.
Cancellation of the option of falling quotes for the AUD/USD pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with closing quotes above the area of 0.6645. This will indicate a change in the sideways trend in favor of the bullish trend and continued growth of the pair this week. Expect an acceleration of the fall of AUD/USD from the level of the support area and closing below the 0.6405 area.
AUD/USD Forecast April 15 — 19, 2024 suggests an attempt to develop a bullish correction to the level of 0.6545. Where can we expect a rebound and continued fall of the pair in the current trading week with a potential target near the level of 0.6145. An additional signal in favor of a decline will be a rebound from the upper border of the bearish channel. Cancellation of the option for the currency pair to fall will be a breakdown of the 0.6645 area. In this case, we should expect continued growth of the AUD/USD rate for a possible change in the bullish trend in favor of a bearish trend with the goal of falling quotes at the level of 0.6975.
