11.10.202407:27 Forex Analysis & Reviews: Forecast for AUD/USD on October 11, 2024

Relevance up to 22:00 2024-10-11 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The Australian dollar became tired of waiting for a reversal from the euro and the pound and decided to take the lead itself. This decision was bolstered by the recovery in commodity markets. Currently, the price is testing the resistance level defined by the daily balance indicator line. The MACD line is slightly higher (0.6775), and a break above this level would set a target of 0.6827.

Investors are anticipating new stimulus measures from China during the upcoming weekend. The Australian dollar may react to them with growth; the magnitude of this appreciation will depend on the specific measures implemented.

On the four-hour chart, the Marlin oscillator has settled in the zone of an upward trend. The price is consolidating before a potential breakout above 0.6775. The balance indicator line is also nearby.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.