Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of the formation of the bullish «5-0» model. At this point, we should expect an attempt to rebound and fall of quotations in the area below the level of 0.7560.
AUD/USD forecast & technical analysis on December 20, 2017
In favor of the fall of the pair AUD/USD is the formation of the reversal model «Failure Swing» on the indicator of relative strength index (RSI). The cancellation of the drop in the Australian Dollar quotations will result in a strong growth and breakdown at the level of 0.7740, which will indicate the continued growth of AUD/USD on Forex. Expect the acceleration of falling quotations is with the breakdown of the level of 0.7620.
AUD/USD forecast & technical analysis on December 20, 2017 suggests an attempt to drop quotes to the bottom of the channel of the upward channel near the level of 0.7560, where it is expected to continue the growth of AUD/USD with a target above 0.7750, an additional signal in favor of the decline is the formation reversal model on the indicator of relative strength index (RSI), the cancellation of the AUD/USD fall variant will be a breakdown at the level of 0.7740.
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