Currency pair Australian dollar against the US dollar AUD USD continues moving upwards and currently quotes tested the resistance area at 0.75. With the current levels should not expect a rebound attempt and fall within the beginning forex forming inverted head and shoulders pattern in order to reduce the level below 0.73 area.
AUD USD Forecast Australian Dollar on January 13, 2017
Cancellation option will drop the sample area 0.7540 that cancels the formation of reversal pattern. Once again, we are trying to sell the Aussie with a close stop. Is expected to accelerate the fall is a breakdown of the rising channel’s lower border.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis of the AUD/USD.
AUD USD Forecast Australian Dollar on January 13, 2017 suggests the fall from the resistance level in the framework of the beginning of the formation of forex inverted head and shoulders pattern with a potential to reduce the level below 0.73 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link