The currency pair Australian Dollar to US Dollar AUD/USD continues to move in a downward trend and is currently trading near the area of 0.7490. There is a potential for continuing the fall below the level of 0.74 within the rebound from the upper boundary of the descending channel.
Technical analysis and Forecast AUD/USD on April 12, 2017
In favor of falling quotations of the Australian dollar is the test of the trend line on the indicator of relative strength. The cancellation of the AUD/USD fall will result in a strong growth and breakdown of the 0.7540 area, which will indicate the continuation of the upward correction of the pair.
Important news from Australia is not expected, so the pair will continue to move in the technical analysis of AUD/USD.
Technical analysis and Forecast AUD/USD on April 12, 2017 implies an attempt to continue falling to the area below the level of 0.74, in favor of the drop is a rebound from the descending line of resistance on the indicator of relative strength.
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