Currency pair Australian Dollar to US Dollar AUD/USD has gone into the development of an upward correction and at the moment the quotes are testing the area of the upper boundary of the descending channel. It is worth to overcome the attempt of rebound and fall into the area below the level of 0.74.
AUD/USD Forecast Australian Dollar May 2, 2017
In favor of falling quotes of the pair AUD/USD is the test of the downward resistance line on the indicator of relative strength. The abolition of the decline option will be a strong growth and breakdown of the area of 0.7560, which will indicate the continued growth of the pair.
Among the important news from Australia, which can have a strong impact on the Australian dollar, it is worth highlighting, the Reserve Bank of Australia’s decision on the basic interest rate, the Covering Statement of the Reserve Bank of Australia.
AUD/USD Forecast Australian Dollar May 2, 2017 involves a rebound attempt from the upper boundary of the descending channel and the continuation of the decline in the area below the level of 0.74, the cancellation will be the breakdown of the area of 0.7560.