Currency pair Australian dollar against the US dollar AUD USD continued tight test resistance area. At the moment, preserved potential to rebound and start falling Australian dollar quotations in the area below the level of 0.73, which is expected to complete the formation of inverted head and shoulders pattern.
FOREX Forecast Australian Dollar (AUD/USD) on January 16, 2017
We continue to keep selling AUD/USD with a close stop. Is expected to accelerate the fall is a breakdown of the rising channel’s lower border, an additional signal to perform sample falling trend line on the indicator of relative strength.
Cancellation option will increase in quotes above the strong level 0.7550, which will indicate the breakdown of the resistance area. Important news from Australia on Monday, January 16, 2017 is not expected, so the pair will continue to move in the technical analysis of the AUD / USD.
FOREX Forecast Australian Dollar (AUD/USD) on January 16, 2017 suggests an attempt to rebound from the resistance area with the potential to reduce the level below 0.73 area.
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