The currency pair Australian dollar to US dollar AUD/USD finished the trading week at the level of 0.7625. The pair continues to move within the framework of the Triangle model and at the moment the potential for a pair of pair quotes from the upper boundary of the model remains and the beginning of the fall into the area below the level of 0.72.
AUD/USD Prediction on April 3, 2017 — April 7, 2017
In favor of the fall is the formation of the reversal Forex model Double top, with breakdown of the trend line on the price chart, we expect to accelerate the fall of quotations in the area below the level of 0.73, as well as the completion of the formation of the reversal pattern. By canceling the option of reducing the AUD/USD pair in the current trading week, there will be a strong growth and breakout of the area of 0.78, which will indicate that the quotations are out of the upper bound of the Triangle model and the probable continuation of the growth of the Australian dollar pair.
Among the important news from Australia that can influence the exchange rate of the AUD USD currency pair during the next trading week, the Reserve Bank of Australia’s decision on the main interest rate, as well as the accompanying statement of the Reserve Bank of Australia on April 4, 2017.
AUD/USD Prediction on April 3, 2017 — April 7, 2017 suggests an attempt to continue the decline as part of the start-up of the reversal pattern double top with a potential downside target near 0.73.
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