Forecast for AUD/USD on Dec 4, 2019

Posted On 04 Dec 2019

AUD/USD

On the daily chart, the price broke above the balance indicator line yesterday, but did not consolidate above it and the current market trend returns to a decline. The signal line of the Marlin oscillator briefly exceeded the boundary with the growth territory, it is currently going back to the area below it. The immediate goal of the aussie is the MACD line at the price of 0.6798. Consolidation below it opens the target at 0.6716 – support of the embedded line of the price channel.

On a four-hour chart, the price returns to the indicator lines on its scale. Price consolidation below the MACD line on the daily (0.6798) could be accompanied by the price touching the same indicator line on the H4 (0.6786).

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Source:: Forecast for AUD/USD on December 4, 2019

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