AUD / USD On Friday, the Australian dollar overcame the target level of 0.7316, expanding the price channel member of the daily timeframe. However, on Monday, it was unable to withstand the tension, it fell by 37 points against the general weakening of the US dollar. This morning, the Australian dollar continues to decline. Currently, the price has already overcome the support of the Krusenstern indicator line on the H4 scale (blue). Divergences on both scales indicate a high probability of overcoming this support, which will allow the price to decline further in order to support the embedded line of the price channel of 0.7230. Leaving the price below the line below, will open the next target 0.7140 (if the Krusenstern line on the daily chart doesn’t hurt much).Today, the British Prime Minister Theresa May will be an unpleasant procedure on the issue of party confidence forecast. In the US, there are data on the laying of new homes in October – a forecast of of 1.23 million against 1.20 million in September. These events also contribute to the pressure on the Australian currency.
The material has been provided by InstaForex Company – www.instaforex.com
AUD / USD On Friday, the Australian dollar overcame the target level of 0.7316, expanding the price channel member of the daily timeframe. However, on Monday, it was unable to withstand the tension, it fell by 37 points against the general weakening of the US dollar. This morning, the Australian dollar continues to decline. Currently, the price has already overcome the support of the Krusenstern indicator line on the H4 scale (blue). Divergences on both scales indicate a high probability of overcoming this support, which will allow the price to decline further in order to support the embedded line of the price channel of 0.7230. Leaving the price below the line below, will open the next target 0.7140 (if the Krusenstern line on the daily chart doesn’t hurt much).Today, the British Prime Minister Theresa May will be an unpleasant procedure on the issue of party confidence forecast. In the US, there are data on the laying of new homes in October – a forecast of of 1.23 million against 1.20 million in September. These events also contribute to the pressure on the Australian currency.
The material has been provided by InstaForex Company – www.instaforex.com
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