Australian Dollar US Dollar AUD/USD ends the trading week near the level of 0.6394. 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 signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 0.6455. 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 0.6175.
AUD/USD Forecast September 11 — 15, 2023
An additional signal in favor of a fall 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. Earlier, a weak signal was received to sell the Australian Dollar/US Dollar pair. The signal was formed due to the intersection of signal lines at the level of 0.6715.
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 0.6685. This will indicate a change in the bearish trend in favor of a 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 0.6225 area, which will indicate a breakdown of the lower boundary of the downward channel, and this is a signal for a fall by the width of the channel.
AUD/USD Forecast September 11 — 15, 2023 assumes an attempt to develop a correction to the level of 0.6455. 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 0.6175. An additional signal in favor of a decline will be a rebound from the lower border of the bullish channel. Cancellation of the option for the currency pair to fall will be a breakdown of the 0.6685 area. In this case, we should expect continued growth in the AUD/USD rate for a possible change in the bearish trend in favor of a bullish trend with the goal of increasing quotes at the level of 0.6975.
