Currency pair Australian Dollar to US dollar AUD USD finished the trading week at 0.7701. The pair is testing the upper bound of the Triangle model again, we should expect another attempt of rebound and fall of the pair into the support area near the level of 0.7520.
AUD/USD Forecast on March 20, 2017 — March 24, 2017
Cancellation of the option will be a breakdown of the upper boundary of the Triangle model, indicating that growth will continue, but in case of growth above the 0.78 area there will be a potential for the formation of the downward Forex model of the Wolf wave, which will also indicate a fall in the pair in the 0.7520 area. In favor of the fall of the pair, a tight test of the resistance area will also perform on the relative strength indicator.
Among the important news from Australia that could influence the exchange rate of the AUD USD currency pair during the next trading week is the Standing Committee of the Reserve Bank of Australia on March 21, 2017.
AUD/USD Forecast on March 20, 2017 — March 24, 2017 involves an attempt to fall within the rebound from the upper boundary of the Triangle model with the first target near the level of 0.7250, the breakdown of which will indicate the continuation of the decline in the area below the level of 0.72.
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