The pair AUD USD completes the current trading week higher. However, there is still potential for the beginning of AUD USD quotations fall under the attempts of working out a reversal forex head and shoulders pattern.
AUD USD forecast for the week July 11, 2016 — July 15, 2016
As you can see, the pair failed to update the domain local maximum, so it is too early to talk about the end of the potential for the development of a downtrend. USD is an additional signal to the fall of quotations AUD testing the descending trend line on the indicator of relative strength, which also indicates the pair falling Australian dollar against the US dollar at the beginning of the next trading week. Cancellation option will drop the pair a strong growth of quotations above the level of 0.77.
AUD USD forecast for the week July 11, 2016 — July 15, 2016 suggests an attempt to fall within the beginning of working out a bearish head and shoulders pattern with a potential target of the level below 0.70.
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