empty
 
 
06.12.2019 05:44 AM
Forecast for AUD/USD on December 6, 2019

AUD/USD

Australia showed weak economic indicators yesterday: the trade balance for October reached $4.50 billion against $6.49 billion in September, and revised down from 7.18 billion, while retail sales in October showed a zero increase against the expected 0.3%. The Australian dollar lost 17 points against a general decline of the US currency by 0.23%.

This image is no longer relevant

On the daily chart, the price returned below the balance line, the Marlin oscillator in a neutral position on the boundary with the decline territory.

This image is no longer relevant

Marlin is also in a neutral position on the four-hour chart. The US employment data can move the market today, but it is expected to be good: the forecast for new jobs in the non-agricultural sector is 181 thousand, the University of Michigan consumer confidence index is expected to grow from 96.8 to 97.0, and consumer lending in October may show an increase from $9.5 billion to $16.0 billion

We are waiting for the Australian dollar to fall to the MACD line on the daily and four-hour charts, coinciding at the same level of 0.6800. Consolidating the price below the level opens a deeper target 0.6708 on supporting the price channel line.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback