The currency pair Australian Dollar to US Dollar AUD/USD continues to benchmark the upper margin of the Forex 5-0 model, which indicates a potential rebound and a continuation of the decline to below 0.76. In favor of the decline is the formation of the reversal Forex Head and Shoulder models on the indicator of relative strength, which also indicates the fall in the quotations of the Australian Dollar pair.
AUD/USD Forecast Australian Dollar on April 3, 2017
The cancellation of the reduction option will result in the quotes coming out of the upper boundary of the downward channel, which indicates the continued growth in the local maximum area. With the breakdown of the area of 0.76, it is expected to accelerate the fall of quotations in the area below the level of 0.75.
Among the important news from Australia, which can have a strong impact on the Australian dollar, it is worth highlighting, the change in the volume of retail trade, as well as the change in the volume of issued building permits.
AUD/USD Forecast Australian Dollar on April 3, 2017 assumes an attempt to continue reducing the pair into the area below the level of 0.76 within the framework of working out the bearish model 5-0, the breakdown will be a breakdown of the upper boundary of the descending channel.
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