10.05.201906:11 Forex Analysis & Reviews: Forecast for AUD/USD on May 10, 2019

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AUD/USD

On Thursday, the Australian dollar found support on the embedded line of the price channel. On political unrest regarding the negotiations between the United States and China, the "aussie", of course, could not take one direction or another. Convergence with the marlin oscillator is preserved on the daily chart, but the appearance of the oscillator signal line itself has a wedge-shaped shape, which may cause support to break through to the previous trend, according to the classic rules of geometric formations. The prospect of price growth, if any, 0.7062 is the resistance line of the price channel and the MACD line (daily). Consolidating the price below support in the area of 0.6970 will develop a downward trend to the underlying line to 0.6858.

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