Currency pair Australian dollar against the US dollar AUD USD continues to move in the development of ascending correction and is now able to update the local maximum region. There remains potential for a rebound and the beginning of reduction with the immediate goal of the fall to below 0.7430 area.
Forex Technical Analysis AUD USD on January 18, 2017
In favor of the quotations falling variant testing the descending trend line on the indicator of relative strength, as well as the formation of topping models forex head and shoulders on the display.
Cancellation option will break-down area of a local maximum in the relative strength indicator, which indicates continued growth in an area above the level of 0.77. Important news from Australia is not expected, so the pair will continue to move in the technical analysis of the AUD/USD.
Forex Technical Analysis AUD USD on January 18, 2017 suggests another attempt to fall in the rebound from the resistance line on the indicator of relative strength with the immediate goal to below 0.7430 area.
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