Forecast for AUD/USD on Oct 11, 2019

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AUD/USD

The Australian dollar, as expected, closed the gap at the opening of the week and today in the Asian session it reached the MACD line on the daily chart. The Marlin oscillator has penetrated the territory of the “bulls”, and this may be a condition for a slight increase – either to the blue line of the price channel (0.6788) or to the red line of the price channel (0.6805). From this range, a price reversal is likely, or at least a correctional decline.

On a four-hour chart, the price is supported by the balance line, the Marlin oscillator does not rise in the growth zone. While there are no clear signs of a reversal, we are carefully waiting for the continuation of the current trend.

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

Source:: Forecast for AUD/USD on October 11, 2019

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