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16.10.202005:54 Ανάλυση και κριτικές Forex: Forecast for AUD/USD on October 16, 2020

AUD/USD

The Australian dollar carried on with its steady decline, yesterday it hit the first target of 0.7055. Lowering in the price below this target level opens a subsequent target of 0.6960 near the support of the nested line of the monthly chart price channel (blue line). The Marlin Oscillator is declining in the negative zone and we are anticipating further development of the downward movement.

Exchange Rates 16.10.2020 analysis

On the four-hour chart, the price is reduced under both of the indicator lines. The Marlin Oscillator is declining in the zone of dominance of the bears. We are anticipating the Australian dollar at the price of 0.6960.

Exchange Rates 16.10.2020 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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