AUD/USD Technical Analysis

iStock_AUmoney_15153263_SMALL (500 x 333)

AUD/USD currency pair continues to move within the local descending channel, practicing the “Head and shoulders” figure. At the moment, one should expect an attempt to test the area of 0.7650 and continue falling to 0.7450, which is the level of the projection of the head of the “Head and shoulders” figure.
In favor of the pair fall will be a resistance line test on the RSI indicator. The cancellation of AUD/USD fall will be a result of a strong growth and a 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 it is worth highlight: The change in capital expenditure in the private sector.


Edited by Joshua Hayn

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