Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week near the level of 0.6791. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for the Australian Dollar/US Dollar pair. In the current trading week, a bullish correction is expected to develop and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 0.6895. Where should we expect an attempt to rebound down and continue the fall of the currency pair in the Forex market with a target near the level of 0.6295.
FOREX weekly Prediction AUD/USD September 5 — 9, 2022
An additional signal in favor of the fall of 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 the decline will be a rebound from the lower boundary of the bullish channel, which was broken down by sellers a few days ago. Earlier, a weak sell signal was received for the Australian Dollar/US Dollar pair. The signal was formed due to the crossing of the signal lines at the level of 0.6930.
Cancellation of the option to reduce the quotes of the AUD/USD pair will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 0.7085 area. This will indicate a change in the side trend in favor of the bullish trend and the continued growth of the pair this week. Expect an acceleration in the fall of AUD/USD from the level of the support area and closing below the 0.6635 area.
FOREX weekly Prediction AUD/USD September 5 — 9, 2022 suggests an attempt to develop an upward correction to the level of 0.6895. Where should we expect a rebound and a continuation of the fall of the pair in the current trading week with a potential target near the level of 0.6295. An additional signal in favor of the decline will be a rebound from the lower border of the bullish channel. Cancellation of the option of the fall of the currency pair will be a breakdown of the area of 0.7085. In this case, we should expect the continued growth of the AUD/USD rate for a possible change in the current trend in favor of a bullish trend with the aim of rising at the level of 0.7275.
