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 of a minor correction in the area above the level of 0.7630 and continuation of the pair’s decline below the level of 0.7450.
AUD/USD forecast & technical analysis on July 12, 2017
In favor of falling quotations of the Australian Dollar will perform a test of the resistance line on the indicator of relative strength. Canceling the option of reducing the pair will be a strong increase in the breakdown of the level of 0.7720, which will indicate the continued growth of quotations. To expect the acceleration of the fall, AUD/USD stands with a breakdown of 0.7570.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis of AUD/USD.
AUD/USD forecast & technical analysis on July 12, 2017 implies an attempt to fall below 0.7450 as part of the development of the «Head and Shoulders» reversal pattern, the cancellation will be a breakdown at the level of 0.7720, indicating that the pair will continue to grow.
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