The currency pair Australian Dollar to US Dollar AUD/USD has completed the current trading month at the level of 0.7625. The pair continues to trade within the framework of the Triangle model and at the moment the quotes are pushing towards the upper limit of the model. It is worth waiting for an attempt to continue the decline in the lower boundary area near the level of 0.73.
AUD/USD Forecast Australian Dollar on April 2017
In favor of continuing the fall of AUD/USD is the breakdown of the upward trend line on the relative indicator, which indicates a potential breakdown of the nearest support area. The cancellation of the option may be a strong growth and breakdown of the upper limit of the Triangle model, in which case it is expected to continue the growth of the pair’s quotations in the area above the level of 0.82.
Among the important news that could affect the Australian dollar rate in April 2017, it is worth highlighting, the Reserve Bank of Australia’s decision on the principal interest rate on April 4, 2017, and the Protocol of the Reserve Bank of Australia meeting on monetary policy on April 18, 2017.
AUD/USD Forecast Australian Dollar on April 2017 suggests an attempt to continue the decline to the bottom of the Forex forex Triangle model near the area of 0.72, with the breakdown which is expected to accelerate the fall in quotations AUD/USD.
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