The currency pair Australian Dollar to US Dollar AUD/USD showed strong growth and is currently testing the resistance area near the level of 0.7582. The potential for continuing the decline remains within the start of the downward 1:1 model with a potential drop target below 0.7420.
Technical analysis and AUD/USD forecast on April 14, 2017
In favor of the drop is the resistance area test on the relative strength indicator. Canceling the option will be a breakdown of the area of 0.7620, indicating that the Australian dollar will continue to grow.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis of AUD/USD.
Technical analysis and AUD/USD forecast on April 14, 2017 involves an attempt to fall into the area below the level of 0.7420 within the beginning of working out the bearish model 1: 1, the breakdown will be the breakdown of the resistance area.
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