Currency pair Australian dollar showed a drop in quality in the rebound from the upper border of the descending channel. However, at the moment there is a potential for growth from current levels. But it will not attempt to continue the upward trend, but rather a good opportunity to sell AUD/USD.
AUD/USD dollar exchange rate forecast — June 2016
The main signal in favor of the growth is the test of the lower boundary of the bovine 5-0 model, which involves the growth rate AUD/USD to the upper boundary of the descending channel. In general, the current top-down model of 1:1 implies depreciation of the Australian dollar below 0.62. Cancellation option of falling may be the growth of quotations of the pair beyond the upper limit of the downward channel.
AUD/USD dollar exchange rate forecast — June 2016 involves a new attempt to test the upper boundary of the descending channel and continue falling within the mining model 1:1.
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