AUD/USD decline is expected after the end of Q1

On the chart we can clearly see what are the forecasts of the major banks for the development of the currency pair AUD/USD for 2017. Expectations from five of the biggest banks, Australia & New Zealand Banking Group, Band of America Merrill Lynch, JPMorgan Chase, Morgan Stanley and Saxo Bank are pessimistic. Almost all of them expect the currency pair to rise during the Q1, then decline till the rest of the year.
1. Australia & New Zealand Banking Group - the bank forecasts the price to go up to 0.75 in Q1, then decline under 0.70 to 0.67-68 levels.
2. Bank of America Merrill Lynch - in their opinion, the currency pair won't show big movements this year, however will stay on levels above 0.70
3.JPMorgan Chase - they expect the price to rise to 0.72 in Q1, than fall to 0.68, meeting the forecast of Australia & New Zealand Banking Group.
4.Morgan Stanley - they think the price won't go up at all, declining to 0.70 at Q1, then going above 0.67 in Q1 all the way down to 0.65 in Q4.
5.Saxo Bank - Saxo Bank are the most pessimistic from the banks above, expecting the price reaching the bottom of 0.60 in Q4
Currently, AUD/USD trades at 0.76.

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