Currency pair Australian dollar to US Dollar AUD/USD is trading at the level of 0.7385. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the pair Australian Dollar to US Dollar. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 0.7400, from which one should expect an attempt to fall and further develop bearish tendency for a pair near the level of 0.7300.
Technical analysis & forecast AUD/USD on May 16, 2017
Earlier, a weak signal was received for purchases of the currency pair Australian Dollar to US Dollar, due to crossing of the signal lines at the level of 0.7375. The cancellation of the fall of the pair quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.7460, which will indicate a change in the downward trend in favor of the bullish trend. Expect the acceleration of the fall in quotations AUD/USD is with the breakdown of the local minimum area at the level of 0.7320.