Currency pair Australian Dollar to US Dollar AUD/USD continues to move within the framework of an upward correction. At the moment, quotes are testing the resistance area, as well as the upper boundary of the downtrend channel. It is worth waiting for an attempt to rebound and fall AUD/USD in the local minimum area.
AUD/USD forecast Australian Dollar on May 16, 2017
In favor of falling quotations of the pair is the test of the downtrend resistance line on the indicator of relative strength. Cancel the variant of the fall in the quotations of the pair Australian Dollar pair against the US Dollar will be strong growth and breakdown of the area of 0.7480, which will indicate the continuation of the development of the uptrend correction for the pair.
Among the important news from Australia, which may have a strong impact on the Australian dollar, Protocol of the Reserve Bank of Australia meeting on monetary policy, this news has an important impact on the AUD/USD rate, so expect growth in volatility at the time of publication Protocol.
AUD/USD forecast Australian Dollar on May 16, 2017 suggests a test of the resistance area and the beginning of the fall with a potential target near the 0.73 area, the cancellation of the fall variant will be a strong growth and breakout of the area of 0.7480.
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