The currency pair Australian Dollar to US Dollar AUD/USD continues to move as part of a downward trend. At the moment, there is the potential for continuing the fall in the area below the level of 0.7250. In favor of the falls is the breakdown of the lower border of the rising channel, which indicates the acceleration of the fall in quotations of the pair AUD/USD.
Technical analysis and AUD/USD forecast on May 10, 2017
However, do not exclude the attempt to test the punched channel boundary and only then expect a continuation of the decline. The cancellation of the fall of the quotes of the pair will result in a strong growth and breakdown of the area of 0.7420, which will indicate the continuation of the upward correction of the pair.
Important news from Australia is not expected, so the pair Australian Dollar to the US Dollar will continue to move in the technical analysis of AUD/USD.
Technical analysis and AUD/USD forecast on May 10, 2017 suggests an attempt to continue reducing the pair in the area below the level of 0.7250 within the framework of working through the punched channel, the cancellation will be a strong growth of quotations and breakdown of the area of 0.7420.
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