On Tuesday and Wednesday, the Australian dollar successfully tested the embedded line of the price channel for strength. The line was broken and the price turned up from the balance line. Correctional upward movement was stopped with a reversal of the signal line of the Marlin oscillator from the zero line on the H4 chart. Now, we are waiting for the new decline of the “Australian”. There will be commodity markets for this. Iron ore loses 0.73% in the last 24 hours. Oil is at 0.05%, and copper is at -0.06%. However, today is a holiday in the USA, which will be reflected in the insignificant dynamics of commodity markets. Tomorrow, in the US, Manufacturing PMI for the current month is expected to increase from 55.7 to 55.8 and Services PMI increase from 54.8 to 55.0. After the repeated breakthrough of the support of the trend line (0.7226) with a higher probability, the price will fall to the next embedded line of the price channel (0.7130).
The material has been provided by InstaForex Company – www.instaforex.com
AUD / USD
On Tuesday and Wednesday, the Australian dollar successfully tested the embedded line of the price channel for strength. The line was broken and the price turned up from the balance line. Correctional upward movement was stopped with a reversal of the signal line of the Marlin oscillator from the zero line on the H4 chart. Now, we are waiting for the new decline of the “Australian”. There will be commodity markets for this. Iron ore loses 0.73% in the last 24 hours. Oil is at 0.05%, and copper is at -0.06%. However, today is a holiday in the USA, which will be reflected in the insignificant dynamics of commodity markets. Tomorrow, in the US, Manufacturing PMI for the current month is expected to increase from 55.7 to 55.8 and Services PMI increase from 54.8 to 55.0. After the repeated breakthrough of the support of the trend line (0.7226) with a higher probability, the price will fall to the next embedded line of the price channel (0.7130).
The material has been provided by InstaForex Company – www.instaforex.com
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