Forecast for AUD/USD on January 17, 2019

AUD/USD

The Australian dollar stopped the market-leading correction, having received a strong resistance to the balance line of the daily timeframe. Currently, the price is already below the Krusenstern line. This line shows the trend direction and the price trend. The daily horizontal line is a side trend, but the price is below the line, the trend is decreasing.

On the H4 chart, the price is already on the Krusenstern line. Marlin indicator in a downtrend. We are waiting for the departure of the price under the last support on the four-hour chart and a decline towards the first goal of 0.7022 – a low of 26 October. Then the road to support the line of the daily price scale channel – 0.6770.

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

Source:: Forecast for AUD/USD on January 17, 2019