Currency pair Australian dollar against the US dollar AUD USD continues to move in the development of ascending correction and at the moment has the potential to turn a pair of quotes due to completion of the forex head and shoulders pattern.
AUD USD Forecast Australian Dollar on January 24, 2017
The purpose of the fall is the area on the level below 0.7425. Cancellation option quotations falling AUD/USD will be strong growth above the level of 0.76, which indicates an continued growth of the Australian dollar against the US currency.
In favor of the fall is the breakdown of the trend line on the indicator of relative strength, as well as the formation of reversal pattern failure swing, which also points to the breakdown of the area of support closing prices. Important news from Australia tomorrow 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 24, 2017 suggests an attempt to fall on the 0.7425 level in the framework of working out a reversal pattern Forex Head and Shoulders, the cancellation option will break-down area of a local maximum.
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