The currency pair Australian Dollar against US Dollar AUD/USD continues to move within a downward trend and at the moment the pair’s quotes are testing the area of the upper boundary of the descending channel. It is expected to rebound and fall in quotations AUD/USD in the area below the level of 0.73.
AUD/USD Forex forecast & News on May 12, 2017
In favor of the fall is the breakdown of the lower boundary of the descending channel, as well as the formation of the reversal forex model of the Head and shoulders on the indicator of relative strength. Expect to accelerate the fall of the pair is with the breakdown of the local minimum area. The cancellation of the fall of the quotes of the pair will result in a strong growth and breakdown of the area of 0.7420, which will indicate the continuation of the upward correction of the pair.
Important news from Australia, which may have an impact on the AUD/USD exchange rate, is not expected, so the pair will continue to move within the technical analysis of AUD/USD.
AUD/USD Forex forecast & News on May 12, 2017 suggests an attempt to continue falling to the area below the level of 0.73 within the rebound from the upper boundary of the descending channel, the cancellation of the fall variant will be a strong growth and the surf of the area of 0.7420, which will indicate the continued growth.
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