18.12.202405:17 Forex Analysis & Reviews: AUD/USD Forecast for December 18, 2024

Relevance up to 21:00 2024-12-18 UTC--5

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 broke below it yesterday after a brief consolidation at the 0.6351 level. Further declines have started today, and the price is moving toward the support level at 0.6273. A breach of this level would open the path to 0.6171, the low from October 2022.

At approximately this level, the price may encounter the lower boundary of the descending green price channel. The signal line of the Marlin oscillator has fallen below the convergence trendline, nullifying the previous convergence signal.

On the four-hour chart, the price is trading below both indicator lines and has consolidated below the 0.6351 level. The Marlin oscillator is also declining within the bearish trend territory. We anticipate the price reaching the next target level of 0.6273.

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.