Currency pair Australian Dollar to US Dollar AUD/USD continues to move in the framework of the formation of the «Head and Shoulders» reversal pattern. It is worth to expect an attempt to grow the pair in the area above the level of 0.7650, where again we should expect the pair to continue falling below the level of 0.7450.
AUD/USD forecast & technical analysis on July 11, 2017
In favor of reducing the pair AUD/USD will test the trend line on the indicator of relative strength. The cancellation of the variant of falling quotations will be a strong growth and breakdown at the level of 0.7730.
Among the important news from Australia, which can have a strong impact on the Australian dollar, there are: The Business Confidence Index NAB.
AUD/USD forecast & technical analysis on July 11, 2017 involves an attempt to complete the formation of the reversal pattern and continue the decline to the area below the level of 0.7450, an additional signal in favor of the drop will be a resistance line test on the relative strength indicator, the cancellation of the option will be the breakdown of the local maximum region.
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