01.10.202404:51 Forex Analysis & Reviews: Forecast for AUD/USD on October 1, 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 continues its growth for the 4th session in a row. Today, it faces an important task – overcoming the resistance level of 0.6933 to have the potential to rise to 0.7014. The potential divergence with the Marlin oscillator is fading away. Marlin, currently moving horizontally, appears poised to resume its upward movement.

A successful close above 0.6933 today could signal a continuation of the Australian currency's upward trend.

The four-hour chart shows a short-term price consolidation in front of the 0.6933 resistance.

The development occurs above both indicator lines, and the Marlin oscillator turns around as it approaches the boundary of the downward trend, maintaining interest in upward movement. It is possible that today, on the H4 chart, the price will consolidate above this relatively strong 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.