Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the our forecast. At this point, we should expect a rebound attempt and growth in the area above 0.7960, where again we should expect a fall in quotations with a potential target below 0.78. In favor of the fall of the pair is the formation of a reversal model of the «Head and Shoulders» on the indicator of relative strength index (RSI).
AUD/USD forecast & technical analysis on September 5, 2017
The cancellation of the variant of the Australian Dollar price reduction will be a breakdown at the level of 0.8010, which will indicate continuation of AUD/USD growth on Forex above 0.8070 area and cancellation of the «Head and Shoulders» reversal pattern. To expect the acceleration of the fall of quotations is with the breakdown of the level of 0.7870.
Among the important news from Australia which can have a strong impact on the rate of the AUD/USD pair, it is worth highlighting: The Reserve Bank of Australia’s decision on the basic interest rate.
AUD/USD forecast & technical analysis on September 5, 2017 suggests an attempt to fall from current levels to the area below 0.78, in favor of the fall is the formation of the head and shoulders reversal pattern on the relative strength indicator (RSI), the cancellation will be a strong growth and breakdown of the area of 0.8010.