20.05.201907:39 Forex Analysis & Reviews: Forecast for AUD / USD pair on May 20, 2019

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.

AUD / USD pair

On Thursday and Friday last week, the Australian dollar was actively declining, but did not reach the support of the embedded line of the price channel and opened a new week from an increasing gap of 46 points this morning. Thus, convergence with the marlin oscillator was formed on the four-hour chart, which practically worked out taking into account the gap. Now, we are waiting for the closing of the gap forme, and testing the support for the nested line of the price channel in the region of 0.6842.

Inertial continuation of the growth of the "Australian" is also possible. Resistance is in the level of coincidence at the balance line with the MACD line of 0.6930 on the four-hour chart.

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.