Currency pair Australian dollar against the US dollar AUD USD closed the week at 0.7593. The pair was able to show the fall in the rebound from the top of the forex triangle patterns. Currently retained potential for further pair of quotes fall to the lower boundary of the rising channel near the area of 0.7420, this field sample points to continued decline in the area of the lower border triangle forex pattern at a level below the area of 0.7150.
AUD/USD Forecast on March 6, 2017 — March 10, 2017
However, the pair is testing the support area, and there are risks in an attempt to see the correction above 0.7670 area, where once again we can expect an attempt to continue falling Australian dollar prices. Cancellation option of reduction of quotations AUD/USD will be strong growth and the breakdown region of the upper boundary of the triangle pattern that points to a continuation of growth of pair.
Among the important news from Australia that can influence the course of the currency pair AUD USD on the next trading week stands out, the Reserve Bank of Australia’s decision on the basic interest rate and the accompanying statement the Bank of 7 March 2017.
AUD/USD Forecast on March 6, 2017 — March 10, 2017 suggests an attempt to drop to the lower boundary of the rising channel at 0.7420 after a minor correction of the pair in the 0.7670 area.
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