Currency pair Australian Dollar US Dollar AUD/USD is trading at 0.6880 and continues to move as part of growth and has left the descending channel. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for the Australian Dollar/US Dollar pair. As part of the Forex forecast for September 15, 2022. A test of the lower border of the Cloud of the Ichimoku Kinko Hyo indicator is expected near the level of 0.6825. Where should we expect a rebound and an attempt to continue the growth of the currency pair. The purpose of such a movement of the pair on Forex is the area near the level of 0.7035.
Australian Dollar Forecast AUD/USD September 15, 2022
An additional signal in favor of the growth of the AUD/USD currency pair on Forex will be a test of the support area on the price chart. The second signal will be a rebound from the upper border of the bearish channel, which was broken up by buyers. Earlier, a weak signal was received for buying the Australian Dollar/US Dollar pair. The signal was formed due to the crossing of the signal lines at the level of 0.6785.
Cancellation of the growth option for the quotes of the AUD/USD pair will be the fall of the asset and the breakdown of the lower boundary of the Cloud of the Forex technical indicator. The reversal will be confirmed by closing quotes below the 0.6705 area. Such a scenario will indicate a change in the bullish trend in favor of the bearish trend and the continuation of the fall of the currency pair. Expect an acceleration in the growth of quotes of the AUD/USD currency pair with a breakdown of the resistance area and closing prices above the level of 0.6945.
Australian Dollar Forecast AUD/USD September 15, 2022 suggests an attempt to test the support level near the 0.6825 area. Where should we expect the continuation of the growth of the currency pair Australian Dollar against the US Dollar with a potential target near the level of 0.7035. Cancellation of the rise option will be a breakdown of the 0.6705 area. This will indicate a continued decline in the Forex currency pair with a target below the 0.6625 area.