Currency pair Australian dollar to US dollar AUD USD finished the trading week at the level of 0.7602. The pair was able to show a rebound from the upper limit of the Forex Triangle model and at the moment there is a potential for continuing the decline in the support area at the level of 0.75. The breakdown of this area will indicate that the pair’s quotations continue to fall in the area of the lower boundary of the Forex Triangle model at the level of 0.7150.
AUD/USD Forecast on March 27, 2017 — March 31, 2017
In favor of the drop is a rebound from the descending line of the trend on the indicator of relative strength. Expect to accelerate the decline of the pair is with the breakdown of the upward support line on the indicator, which indicates a potential breakdown of the lower boundary of the Triangle model. The cancellation of the fall of the AUD/USD pair quotations in the next trading week will be a strong growth and breakdown of the local maximum area with the pair closing above the 0.7790 area.
Among the important news from Australia that can influence the exchange rate of the AUD USD currency pair during the next trading week is worth highlighting, the Governor of the Reserve Bank of Australia speech on March 28, 2017.
AUD/USD Forecast on March 27, 2017 — March 31, 2017 assumes Attempt to continue the decline in the area of 0.75, with a breakdown which is expected to complete the reversal pattern Double top and continue falling to the lower boundary of the Triangle at 0.7150.
