Currency pair Australian dollar AUD USD closed the week at 0.7559. To date, the potential is retained for further drop in prices USD AUD to below 0.72, as part of the descending pattern forex Wolfe waves.
AUD USD forecast for the week 29 August, 2016 — 2 September, 2016
Cancellation option working out such a model and the fall of the Australian dollar quotations will be strong growth above the level of 0.7750. We continue to hold the sale and are ready to increase the amount of short positions after a slight correction of the pair USD AUD. Also do not forget about the test downward trend line on the indicator of relative strength, indicating the probable beginning of a protracted downward trend for the pair.
AUD USD forecast for the week 29 August, 2016 — 2 September, 2016 assumes continuation of falling of quotations within the mining bearish Wolfe wave model with the potential to reduce the level 0.72.
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