Currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of the formation of an inverted forex pattern «Head and Shoulders». Expect to try the test area 0.74, where again we should expect a rebound and an attempt to grow the pair AUD/USD with the target near the area of 0.7495.
AUD/USD forecast & technical analysis on May 30, 2017
In favor of the growth of the pair will perform a tight test of the support line on the indicator of relative strength. The cancellation of the growth of the Australian Dollar against the US Dollar will be the fall and breakdown of the area of 0.7350, which will indicate the continued decline in quotations.
Among the important news from Australia, which can have a strong impact on the Australian dollar, is the following: The change in the volume of construction permits issued, it is expected to grow significantly from -13.4% to 3.2%, which could support the Australian Dollar exchange rate at the time of publication Data.
AUD/USD forecast & technical analysis on May 30, 2017 suggests a test of the level of 0.74, from which it is expected to rebound and increase the pair to the area above the level of 0.7495, the breakdown will be the breakdown of the area of 0.7350, which will indicate the continued decline of the pair.
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