Currency pair Australian Dollar to US dollar AUD USD finished the trading week at the level of 0.7539. The pair continues to move within the framework of the Forex Triangle model and at the moment the potential for continuing the fall of the pair to the lower boundary area at the level of 0.7160 remains. However, the first target of the decline on the pair is the area at the level of 0.7360.
AUD/USD Forecast on March 13, 2017 — March 17, 2017
In favor of continuing the decline is also the lack of a support area on the indicator of relative strength, as we see, it has a place to lower the indicator values in the area below level 30 where the trend line test will take place. The abolition of the continuation of the fall in quotations of the Australian dollar will be a breakdown of the upper boundary of the Triangle model.
Among the important news from Australia, which may affect the exchange rate of the currency pair AUD USD in the next trading week should be highlighted, the unemployment rate, the change in the number of employees on March 16, 2017.
AUD/USD Forecast on March 13, 2017 — March 17, 2017 suggests an attempt to continue falling into the support area at the level of 0.7360, with a breakdown which is expected to continue the decline to the lower limit of the Triangle at 0.7160.
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