24.12.202404:53 Forex Analysis & Reviews: AUD/USD Forecast for December 24, 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 was unable to break above the resistance level of 0.6273 after bouncing back from the lower boundary of the descending price channel. Currently, the price seems to be heading toward the critical point where the target level of 0.6171 meets the lower boundary of the price channel.

Breaking below this level will enable the pair to continue its movement toward 0.6077. In the four-hour timeframe, the signal line of the Marlin oscillator has reversed from the neutral zero line twice.

After reversing from the 0.6273 level, the price has not made any further attempts to return to that point. Indicator lines are steadily declining, and we anticipate the price will reach its first target at 0.6171.

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.