15.10.202410:29 Forex Analysis & Reviews: AUD/USD Forecast for October 15, 2024

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 attempted to drop below 0.6727 yesterday. However, since the morning gap was not closed, it returned above the level. Even if the Australian dollar has lost its upward potential, it may still move towards the MACD line (0.6778) while closing the gap.

The weakening of the upward potential is indicated by the Marlin oscillator, which is in a suppressed state. Consolidation of the price below 0.6772 sets the target at 0.6640. On the four-hour chart, the signal line of the Marlin oscillator has turned upwards from the zero line.

The price has moved above the 0.6727 level but remains below the balance line. The resistance level at 0.6778 is reinforced by the MACD line on the current time frame. If the euro fails to rise after the ECB meeting on Thursday, the Australian dollar is also unlikely to attempt to break this resistance.

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.