Forecast for AUD/USD on August 17, 2023
August 17, 2023 5:22 amVideo
Latest News
- Technical Analysis – NZDUSD bulls show up before RBNZ rate announcement April 9, 2024
- Trading Signals for GOLD (XAU/USD) for April 9-11, 2024: sell below $2,364 (6/8 Murray – overbought) April 9, 2024
- Will Friday’s data add to hopes of UK exit from recession? – Preview April 9, 2024
- ECB meeting looms: what to expect April 9, 2024
- EUR/USD: Waiting for price turbulence April 9, 2024
- Technical Analysis – EURUSD remains above SMAs with weak momentum April 9, 2024
- BoC to put June rate-cut on the map-tentatively – Preview April 9, 2024
- Forex forecast 04/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin from Sebastian Seliga April 9, 2024
- Video market update for April 09, 2024 April 9, 2024
- Technical Analysis – EURJPY rises towards 16-year high April 9, 2024
- Market Comment – Gold shines bright, yen knocks on intervention door April 9, 2024
- Technical Analysis – AUDUSD steady after several sessions of gains April 9, 2024
- Technical Analysis – GBPUSD capped by 50-day SMA April 9, 2024
- Trading plan for GBP/USD on April 9. Simple tips for beginners April 9, 2024
- Trading plan for EUR/USD on April 9. Simple tips for beginners April 9, 2024
- Forecast for EUR/USD on April 9, 2024 April 9, 2024
- Forecast for GBP/USD on April 9, 2024 April 9, 2024
- Forecast for USD/JPY on April 9, 2024 April 9, 2024
- EUR/USD and GBP/USD: Technical analysis on April 9 April 9, 2024
- Bitcoin: Target for this bull cycle is $300,000 April 8, 2024
AUD/USD
After a series of nine black daily candles, the Australian dollar overcame a strong support level this morning, formed by the price channel line of the monthly time frame and the target level of 0.6388 (November 10th, 2022 low).
The reason for the breakthrough was today’s downbeat Australian jobs data. The unemployment rate increased to 3.7% in July, against the previous reading of 3.5%. The next target is 0.6295.
On the four-hour chart, the price was continuously falling below the MACD indicator line. The price will probably distance itself from this line. After the price consolidates below 0.6388, the AUDUSD will accelerate its decline. The Marlin oscillator is already changing its trajectory to a steeper one.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: