Forecast for AUD/USD on May 24, 2024
May 24, 2024 4:22 amVideo
Latest News
- Forecast for EUR/USD on May 24, 2024 May 24, 2024
- Forecast for GBP/USD on May 24, 2024 May 24, 2024
- Forecast for AUD/USD on May 24, 2024 May 24, 2024
- The yen may have already executed a long-term reversal. Overview of USD/JPY May 24, 2024
- Analysis of EUR/USD pair on May 23rd. Buyers make a second attempt to test the 1.0880 level May 23, 2024
- Analysis of GBP/USD pair on May 23rd. American reports saved the dollar May 23, 2024
- Forecast of EUR/USD pair on May 23, 2024 May 23, 2024
- Forecast of GBP/USD pair on May 23, 2024 May 23, 2024
- USD/JPY: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- GBP/USD: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- EUR/USD: Simple trading tips for novice traders on May 23rd (US session) May 23, 2024
- GBP/USD: trading plan for the US session on May 23rd (analysis of morning deals). Buyers hit resistance at 1.2760 May 23, 2024
- EUR/USD: trading plan for the US session on May 23rd (analysis of morning deals). The euro rebounded from the 1.0819 level May 23, 2024
- Technical analysis – US 500 index slips after all-time high but holds within bullish area May 23, 2024
- Nvidia set to propel Wall Street to new highs but Fed uncertainty weighs – Stock Markets May 23, 2024
- Trading Signals for EUR/USD for May 23-25, 2024: buy above 1.0834 (200 EMA – rebound) May 23, 2024
- Trading Signals for SILVER (XAG/USD) for May 23-25, 2024: buy above 30.00 (200 EMA – rebound) May 23, 2024
- Forex forecast 05/23/2024: EUR/USD, GBP/USD, USDX, Oil and Bitcoin from Sebastian Seliga May 23, 2024
- Video market update for May 23, 2024 May 23, 2024
- USD/JPY: Simple trading tips for novice traders on May 23rd. Analysis of yesterday’s forex transactions May 23, 2024
AUD/USD
On Thursday, along with the decline in stock indexes, prices for key Australian export commodities, including copper and iron ore, also fell. As a result, the AUD/USD pair’s initial attempt to start a rally failed, and the quote closed the day down by 11 pips.
On the daily chart, it is clear that the upper shadow of the candlestick tested the intermediate level of 0.6651, but the day ultimately closed fully below the target level of 0.6627. The signal line of the Marlin oscillator is trying to push into the area of the downtrend. The Marlin will likely succeed, and the price will get an incentive to test the nearest support at 0.6552 – the MACD line.
On the 4-hour chart, the price has also consolidated below the support level of 0.6627, which has now become resistance. The MACD line and the balance line have turned downwards, indicating that the short- and medium-term trends have shifted to a decline. The Marlin oscillator continues to move deeper into the downtrend territory. We expect the price to reach the first target of 0.6552. Consolidation below this level will open the path to the second target of 0.6480 – a strong support level since the beginning of the year.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: