Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the bearish channel. At this point, we should expect an attempt to test the upper border of the channel near the level of 0.7960. Where again we should expect an attempt to fall into the support area at the level of 0.7800.
AUD/USD forecast & technical analysis on August 29, 2017
In favor of the fall of the pair is the resistance line test on the indicator of relative strength index (RSI). The cancellation of the variant of the Australian Dollar price reduction will be a breakdown at the level of 0.7990, which will indicate the continued growth of AUD/USD at Forex above 0.8070 area.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis AUD/USD.
AUD/USD forecast & technical analysis on August 29, 2017 involves a test of the level of 0.7960, from where it is expected to start the fall of the pair with a potential target near the level of 0.7790, an additional signal in favor of the drop is the trend line test on the indicator of relative strength index (RSI).
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