Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the descending channel and the bearish model 5-0. At this point, we should expect an attempt to test the upper boundary of the channel and fall into the support area at the level of 0.7800.
AUD/USD forecast & technical analysis on August 31, 2017
In favor of the fall of the pair is the breakdown of the ascending trend line 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 0.8000, which will indicate the continued growth of AUD/USD at Forex above 0.8070 area and the cancellation of the bearish model 5-0.
Among the important news from Australia that can influence the Australian Dollar rate, it is worth highlighting: The change in the volume of capital expenditures in the private sector.
AUD/USD forecast & technical analysis on August 31, 2017 involves a rebound from the upper boundary of the channel with a potential drop target near the level of 0.7800, an additional signal in favor of the fall of the pair is the breakdown of the trend line on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
