empty
 
 
08.10.2020 05:17 AM
Forecast for AUD/USD on October 8, 2020

AUD/USD

The Australian dollar gained 37 points yesterday, taking advantage of the temporary weakness in the US dollar. The dollar index dropped 0.21%, while AUD/USD added 37 points.

This image is no longer relevant

The overall downward situation for the aussie has not changed on the daily chart. The Marlin oscillator is turning down, the blue MACD line is turning down, and the red balance line is also pointing down. The first target of the movement is 0.7055, then 0.6960 is the support of the embedded price channel line.

This image is no longer relevant

But in order for the price to confidently decline, it needs to gain a foothold under the MACD line on a four-hour scale, below 0.7103, which it could not do yesterday. The signal line of the Marlin oscillator is turning down, creating a second chance for the price to develop a bearish offensive.

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 $9000 more!
    In May we raffle $9000 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