Currency pair Australian Dollar to US Dollar AUD/USD completes the trading week at the level of 0.7385. The pair continues to trade below the moving average with a period of 55, indicating a bearish trend for the pair Australian Dollar. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. It is worth waiting for the test of the average border of the Bollinger Bands indicator bars near the level of 0.7480, where again we should expect an attempt to continue the decline with the first target near the level of 0.7220.
AUD/USD forecast for the week May 15 — 19, 2017
The conservative AUD/USD sale area is located near the upper boundary of the Bollinger Bands indicator at 0.7620. The cancellation of the continuation of the fall of the AUD/USD pair will be a breakdown of the moving average region with a period of 55, as well as the upper border of the indicator bands and the closing of the pair’s quotes above the area of 0.7690, indicating a change in the downtrend in favor of the bullish trend in the pair Australian Dollar to US Dollar. In the event of a breakdown of the lower boundary of the indicator strip, it is expected to accelerate the fall of the pair into the area below the level of 0.7220.
