Currency pair Australian Dollar US Dollar AUD USD is still trading within the descending channel. Currently quotes are repelled from the upper boundary of the triangle forex pattern and has the potential to fall in the area of the lower pair pattern border at 0.7150. The breakdown of the field point to the continued decline of the Australian dollar quotations in the area below the level of 0.65.
AUD/USD Forecast Australian Dollar March 2017
In favor of a continuation of falling AUD/USD appears rebound values relative strength indicator from the resistance area. Expect accelerating drop in prices pair is a breakdown of the lower limit of the model Triangle, as well as the breakdown of the support line on the indicator of relative strength.
Cancellation option of continuing depreciation of the pair AUD/USD in March 2017 will be a breakdown of the top models of the border and closing quotes above 0.80 area, which point to a continuation of growth of pair.
Among the important news from Australia that can influence the course of the currency pair AUD/USD in March 2017, is to provide the decision of the Reserve Bank of Australia’s main lending rate of 7 March 2017, it is expected that the rate will remain unchanged at 1.5%, and the accompanying statement of the bank, the publication of the minutes of the meeting of the Reserve Bank of Australia on monetary policy 21 March 2017.
AUD/USD Forecast Australian Dollar March 2017 suggests an attempt to continue the drop in prices pair to the lower boundary of the model triangle at 0.7150 level, the abolition of options reduction could be the breakdown field 0.80, which points to a continuation of the bull trend of the pair.
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