13.06.202405:46 Forex Analysis & Reviews: Forecast for AUD/USD on June 13, 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.

AUD/USD

The Australian dollar has breached the resistance level of 0.6690 for the third time, and it is quickly approaching the support at 0.6627. If it manages to break below this support, the price could further fall towards the MACD line around 0.6570.

The signal line of the Marlin oscillator has approached the upper boundary of its own descending channel and now it appears to be turning towards the lower boundary.

The price is steadily declining on the 4-hour chart, but lacks confidence due to the support of the balance line.

Overall, the price has entered a range of free movement between 0.6627 and 0.6690, and we can confirm its direction when the price moves below the MACD line, coinciding with the lower boundary of the range at 0.6627. The Marlin oscillator also shows instability.

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.