Forex: Evolution AUD – USD:
The evolution of the pair AUDUSD continues to teach an uptrend and it does not seem to show any sign of weakness. Still remains valid buy signal, this follows the interception of moving averages of 12 and 5 times and the moving average of 50 cycles.
The couple moves away from the overbought area and this is evidenced by the value indicated by the RSI is only 54.56.
The price target is around 1.0809 which if crossed can provide a strong upward climb in value.
Meanwhile, the operative volume is within the range started at the beginning of May and is almost twice that of the middle of last year.
For this week, expect announcements of economic importance especially for the Australian dollar as the Reserve Bank of Australia will announce its decision on interest rates (experts predict that rates will not vary) on Tuesday.