Currency pair Australian dollar against the US dollar AUD USD is still trading within the descending pattern Wolfe waves with a potential target of the fall to below 0.7300 area.
AUD USD Forecast Australian Dollar on July 19, 2016
Cancellation option quotations falling AUD USD will be strong growth of the pair above the 0.7650 level, which points to a continuation of the upward movement above the level of 0.78. The immediate goal of the fall of the Australian dollar quotations can be identified area of support 0.7470. Additional signals in favor of the continuation of falling AUD USD may be a completion of the formation of the head and shoulders pattern on the indicator of relative strength.
AUD USD Forecast Australian Dollar on July 19, 2016 assumes reduction of quotations on the pair to 0.7470 level as part of the beginning of working out a bearish Wolfe wave model.
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