On Wednesday, the Australian dollar grew by 41 points, it managed to get out of the accumulation zone of 1.7060-0.7100, where it met resistance from the highs of the preceding days. The MACD line of daily scale is also located here but the price failed to gain a foothold.
On the four-hour chart, the price is above the balance lines and MACD and fixed above them but the readings of the marlin oscillator do not give confidence in further growth. The trend is sluggish and it must be strong in order to fix above the MACD daily scale. As a result, we are waiting for the price to return to the accumulation zone of 0.7060-0.7100 from where the output can follow down to the target levels of 0.6900 and even lower to 0.6770 to the lines of the weekly price channel.
The material has been provided by InstaForex Company – www.instaforex.com
AUD / USD pair
On Wednesday, the Australian dollar grew by 41 points, it managed to get out of the accumulation zone of 1.7060-0.7100, where it met resistance from the highs of the preceding days. The MACD line of daily scale is also located here but the price failed to gain a foothold.
On the four-hour chart, the price is above the balance lines and MACD and fixed above them but the readings of the marlin oscillator do not give confidence in further growth. The trend is sluggish and it must be strong in order to fix above the MACD daily scale. As a result, we are waiting for the price to return to the accumulation zone of 0.7060-0.7100 from where the output can follow down to the target levels of 0.6900 and even lower to 0.6770 to the lines of the weekly price channel.
The material has been provided by InstaForex Company – www.instaforex.com
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