Technical analysis AUD/USD
The AUD/USD currency pair continues to move within the local descending channel, practicing the figure of the technical analysis “Head and shoulders”. At the moment, you should expect to try the test zone 0.7650 and continue falling to the area 0.7450, which is the level of the projection of the head from the developed figure “Head and shoulders”.
In favor of the fall is the resistance line test on the RSI indicator. The cancellation of the AUD/USD fall will result in a strong growth and breakdown at the level of 0.7750, indicating that the Australian Dollar will continue to grow.
Among the important news from Australia, which may have an impact on the Australian Dollar, is: The change in capital expenditure in the private sector.