Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the downward channel. At the moment, the potential for falling AUD/USD quotations in the area below the level of 0.7450 remains. In favor of the drop is the upper channel test, as well as the downtrend line resistance test on the relative strength index indicator.
AUD/USD forecast Australian Dollar on May 18, 2017
Canceling the option of continuing the fall of the Australian Dollar to US Dollar will be a breakdown of the area of 0.7460, indicating that the pair will continue to grow.
Among the important news from Australia, which can have a strong impact on the Australian dollar, there are: Unemployment rate, it is expected that the figure will remain unchanged at 5.9%. Employment Change, it is expected that the index will fall significantly from the level of 60.9K to 4.5K level, which could put serious pressure on the Australian Dollar exchange rate.
AUD/USD forecast Australian Dollar on May 18, 2017 suggests a rebound from the upper boundary of the descending channel and the continuation of the fall into the area below the level of 0.7350, the cancellation will be the breakdown of the area of 0.7450, which will indicate continuation of correction for the pair Australian Dollar to US Dollar.
