Currency pair Australian dollar against the US dollar AUD USD continues moving inside the descending pattern with 5-0 potential target fall to below 0.7250 area. Cancellation option will reduce the strong growth and the breakdown field of the local maximum with closing above the level of 0.7520.
Forecast Australian Dollar AUD USD on December 7, 2016
We continue to hold to sell the pair and are ready to increase the volume of sales to the extent of the fall. Acceleration of falling Australian dollar quotations is expected to breakdown level 0.7380. In favor of the fall is the dense test and bounce off the downtrend line on the indicator of relative strength. Among the important events that may affect the Australian dollar tomorrow, December 7, 2016 stands out, Change of GDP.
Forecast Australian Dollar AUD USD on December 7, 2016 suggests an attempt to fall within the mining bearish forex model 5-0 for the purpose of falling below the level of 0.7250, this scenario will be the abolition of strong growth and close above the 0.7250 level.
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