The pair AUD USD Australian Dollar continues to trade within a descending forex model 1:1 with a view to a potential fall in the pair of quotes below 0.65. Cancellation option working out such a model will be a strong growth of quotations pair AUD USD higher than 0.78, which points to the breakdown of the upper boundary of the channel and the continued growth of quotations of the Australian dollar against the US currency.
The forecast of the Australian dollar in the November 2016
An additional signal in favor of the Aussie falling in November 2016 in favor of formation of topping forex head and shoulders pattern on the indicator of relative strength, it also points to the drop since the current levels.
The forecast of the Australian dollar in the November 2016 suggests an attempt to drop a potential target below 0.65 at the beginning of the descending part of forex 1:1 model; the cancellation will be strong growth and the breakdown of the area 0.78.
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