Australian Dollar Technical Forecast: AUD/USD, AUD/JPY Level

Australian Dollar Technical Forecast: AUD/USD, AUD/JPY Levels to Watch


Australian Dollar Technical Forecast: AUD/USD, AUD/JPY Levels to Watch
2021-04-30 23:00:00
Daniel Moss,
Analyst
Australian Dollar Technical Forecast: Mixed
The Australian Dollar could slip lower against USD, however, further gains against JPY seem likely in the near term.
Head and Shoulders pattern hints at a bearish reversal for AUD/USD rate.
Ascending Triangle pattern points to further gains for AUD/JPY.
The Australian Dollar has been stuck in a relatively tight range against its lower-beta counterparts in recent weeks. However, a bearish Head and Shoulders suggests the risk-sensitive currency could be at risk of a reasonably significant decline against the US Dollar. Meanwhile an Ascending Triangle pattern points to further upside for AUDJPY rates.

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