Currency pair Australian Dollar to US Dollar AUD/USD continues to move in decline and at the moment the pair has fully worked downward model 1:1. It is worth to expect an attempt to correct the pair’s quotations in the area above the level of 0.7430, from which we should expect a rebound and continue the decline of quotations in the area below the level of 0.7340. In favor of the fall, a dense test of the upper boundary of the descending channel will perform, as well as a test of the trend line on the indicator of relative strength.
AUD/USD Forecast Australian Dollar on May 5, 2017
The cancellation of the AUD/USD decline will result in a strong growth and breakdown of the 0.7460 area, which will indicate the continued growth of the pair.
Among the important news from Australia, which can have a strong impact on the Australian dollar, it is worth highlighting the Announcement of the Monetary Policy.
AUD/USD Forecast Australian Dollar on May 5, 2017 suggests a correction attempt to the area of 0.7430, where it is expected to continue the decline to the area below the level of 0.7340, the breakdown will be the breakdown of the area of 0.7460.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
