Currency pair Australian dollar against the US dollar USD AUD continues to move through the molding forex Wedge pattern. We should expect the attempt to break the model down and continue falling with the first target at the level below the area of 0.7390. An additional signal in favor of the fall is the dense test downward trend line on the indicator of relative strength.
AUD USD Forecast Australian Dollar December 15, 2016
Cancellation option of falling Australian dollar will be strong growth of quotations AUD USD pair above the 0.7530 level. Expect to accelerate reduction of quotations couple standing with a breakdown of the lower limit of forex Wedge pattern. Among the important news from Australia tomorrow, December 15, 2016, which may have an impact on the Australian dollar on forex, we should mention, the unemployment rate is expected that the rate will remain at the previous level of 5.6%, as well as the change in the number of employees expected strong growth of the indicator with level 9.8K to 17.6K level that can support the Australian currency in the short term.
AUD USD Forecast Australian Dollar December 15, 2016 involves an attempt to go beyond the model down and Clean Development downward trend with the immediate goal of the fall to below 0.7390 area.
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