The currency pair Australian Dollar to US dollar AUD/USD finished the trading week at 0.7541. The pair continues to trade within the framework of the Forex Triangle model and at the moment the potential for falling of quotations in the region of the lower boundary of the model near the area of 0.7150 remains.
Forex Forecast AUD/USD for the week on April 24 — 28, 2017
In favor of lowering the quotations of the pair AUD/USD, a down resistance line test will perform on the relative strength indicator near the area of 0.7650. Expect to accelerate the fall in quotations of the Australian dollar is with the breakdown of the lower boundary of the rising channel. Cancellation of the variant of falling quotations of the pair will be a breakdown of the upper limit of the model with a close above the level of 0.7770, which will indicate the breakdown of the Triangle pattern up and the continued growth of the pair.
Among the important news from Australia that can influence the exchange rate of the AUD/USD currency pair for the next trading week is the Consumer Price Index April 26, Speech by the Head of the Reserve Bank of Australia on April 27.
Forex Forecast AUD/USD for the week on April 24 — 28, 2017 suggests an attempt to slightly correction to the area of 0.7650 and the beginning of the fall within the rebound from the trend line on the indicator of relative strength, the breakdown will be the breakdown of the area 0.7770.
