Currency pair Australian Dollar to US Dollar AUD USD continues to move within the correction, but the potential for a fall remains. At this point, the pair is pushing away from the resistance area and forming a reversal forex head and shoulders model, indicating a fall in the area below the level of 0.7550.
AUD/USD Forecast Australian Dollar on March 8, 2017
In favor of continuing the decline is the test of the downward trend line on the indicator of relative strength. The cancellation of the fall option can be one hundred strong growth and breakdown of the area of 0.7650, which will indicate the continuation of the upward movement of the pair.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis of AUD/USD.
AUD/USD Forecast Australian Dollar on March 8, 2017 suggests an attempt to fall as part of the beginning of the development of the forex model of the head and shoulders with the first purpose of falling below the area of 0.7550, while the overall target is the area at 0.74.
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