Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the level of 0.7434. The pair continues to move within the descending channel. It is worth waiting for an attempt to grow into the upper border area, where again we should expect a rebound and continue the decline of the pair.
AUD/USD forecast on May 29, 2017 — June 2, 2017
In favor of the growth of quotations AUD/USD is the breakdown of the downward trend line on the indicator of relative strength. Canceling the rebound from the upper border of the channel will be a breakdown of the area of 0.7600, indicating that the Australian Dollar will continue to grow against the US Dollar.
Among the important news from Australia, which may affect the exchange rate of the currency pair AUD/USD in the next trading week is:
June 1, 2017, Thursday, Change in capital expenditure in the private sector.
AUD/USD forecast on May 29, 2017 — June 2, 2017 involves an attempt to test the upper boundary of the channel and continue the decline within the framework of working off the bearish forex pattern “5-0” with the potential target of falling below the level of 0.7250, the cancellation of the fall will be a strong growth and breakdown of the area of 0.76.
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