AUD/USD for February 12, 2019

AUD/USD

The Australian dollar was timidly approaching the support of the price channel line, towards the level of 0.7040, falling only by 48 points in 3 days. As a result, the signal line of the Marlin oscillator on the four-hour chart turned up and is about to move into the growth zone. The correction band is formed by the Feb 11th high and the line of Krusenstern on the H4 – 0.7108/40.

Whether the price can still complete the nearest support of the price channel is a rhetorical question. Over the past 12 months, the price has always touched or crossed it before a reversal, albeit corrective, but, on the other hand, a year is a long enough period for this pattern to be broken at least once.

Consolidating the price at 0.7040 will make it possible for it to strengthen the decline to 0.6920.

IPmNaPR0HIX10ax5PCvHCztwumD2VqlSr8Eby1fF

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Forecast for AUD/USD for February 12, 2019

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*