empty
 
 
08.11.2023 05:34 AM
Forecast for AUD/USD on November 8, 2023

AUD/USD

The Australian dollar, which showed strong movement on Tuesday, tested the support of the MACD indicator line on the daily chart. Thanks to the rebound from this support, the price maintains its potential for growth.

This image is no longer relevant

The Marlin oscillator is in an uptrend. A likely target is 0.6514. If the price surpasses this mark, the next target is 0.6612. If the price falls below the support level at 0.6388, the next target will be 0.6295.

This image is no longer relevant

On the 4-hour chart, yesterday's decline found support at the MACD and balance lines. There is a good chance that we'll see a bullish reversal today. The Marlin oscillator is currently in bearish territory, but it still has the potential to move into the bullish territory while the price consolidates above the MACD 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 $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