Currency pair Australian Dollar to US Dollar AUD/USD completes trading week near the area of 0.7899. At the moment, it is necessary to expect the formation of the «Head and Shoulders» reversal pattern and continue the decline to the area below the level of 0.77.
AUD/USD weekly forecast on August 7 — 11, 2017
In favor of the fall of the pair is the test of the upper border of the channel, as well as the breakdown of the rising trend line on the indicator of relative strength index (RSI). The cancellation of the fall of the AUD/USD pair will trigger a break of 0.81, indicating that the Australian Dollar will continue to grow.
Among the important news from Australia on the following trading week, which can have an impact on the AUD/USD rate is worth highlighting: Speech by the head of the Reserve Bank of Australia with a speech.
AUD/USD weekly forecast on August 7 — 11, 2017 involves an attempt to form a «Head and Shoulders» reversal pattern and continue the pair’s decline to below 0.77, the breakdown will be the breakdown of 0.81 area, in which case it is expected to continue the pair’s growth.
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