Currency pair Australian Dollar to US Dollar AUD/USD continues to move near the area of 0.7930. At the moment, the Forex pattern Triangle is being formed. It is worth expecting a tight test of the upper limit of the model and the beginning of the fall in the area below the level of 0.7780.
AUD/USD technical analysis & forecast on July 26, 2017
In favor of the decline, the trendline test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall option will result in a strong growth and breakdown at the level of 0.7990, which will indicate the continued growth of the pair.
Among the important news from Australia, which can have a strong impact on the Australian Dollar, there are: The consumer price index, Speech by the head of the Reserve Bank of Australia.
AUD/USD technical analysis & forecast on July 26, 2017 suggests an attempt to reduce the Triangle as part of the Triangle model, an additional signal in favor of the drop is the trend line test on the relative strength indicator.
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