Currency pair Australian dollar against the US dollar AUD USD is still trading within the descending pattern Wolfe Wave in order to develop to a level below the 0.7250 area. Currently quotes pair broke the support line, which indicates the continuation of the reduction in the framework of mining models.
AUD USD Forecast Australian Dollar on 07/21/2016
But do not rule out an attempt to test the broken line, and only then of USD AUD quotations fall to below 0.7250. Cancellation option will be the mining model strong growth of the Australian dollar against the US dollar above the 0.77 level, but such an option, we believe it unlikely.
AUD USD Forecast Australian Dollar on 07/21/2016 to correction involves an attempt to drag the line, then we can expect continuation of falling of quotations AUD USD.
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