Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the growth framework and at the moment the pair quotes were able to break the upper boundary of the descending channel. The pair continues to test the resistance area and retains the potential for rebound and fall of the pair into the area below the level of 0.74.
AUD USD forecast & analysis on May 24, 2017
In favor of the fall is also the test of the resistance area on the indicator of relative strength index (RSI). Expect the acceleration of the fall is with the breakdown of the bullish trend line on the indicator of relative strength index (RSI). Canceling the option will be a breakdown of the area of 0.7510, indicating that the growth will continue to the upper bound of the downlink at 0.7585.
Among the important news from Australia, which can have a strong impact on the Australian Dollar, it is worth highlighting: The change in the volume of the delivered construction projects.
AUD USD forecast & analysis on May 24, 2017 suggests an attempt to fall into the region of the broken down boundary of the bearish channel, the cancellation of the fall will be the breakdown of the area of 0.7510, which indicates the continued growth in the area above the level of 0.7580.
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