Currency pair Australian dollar against the US dollar AUD USD continues to move in the development of ascending correction, but the pair came close to the upper boundary of a descending forex model 1:1, indicating that the fast rebound of the Australian dollar quotations in the region below the local minimum.
AUD/USD Forecast Australian Dollar on January 12, 2017
In favor of option in favor formation of forex model failure swing. Cancellation option will be a strong growth of quotations AUD USD above the 0.7420 level, which points to a continuation of upward correction for the pair. With the breakdown of the rising channel’s lower border is expected to accelerate the fall in prices. We try to sell the pair with the tight stop above the channel.
Important news from Australia tomorrow is not expected, so the pair will continue to move in the technical analysis of the AUD/USD.
AUD/USD Forecast Australian Dollar on January 12, 2017 suggests an attempt to reduce under the beginning of the descending forex 1:1 model with a potential target of the fall below the level of 0.71, the cancellation option will sample the upper limit of that point to continued growth in the region above the level 0.7550.
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