On the daily chart, the Australian dollar is trying to rise above the balance (red) and MACD (blue) indicator lines. A downtrend, but there is one positive point – the Marlin oscillator is in the bullish territory. However, the growth is weak, and once the signal line returns to negative territory, the price will fall below the nearest support at 0.6388 and then towards the target level of 0.6295.
If the bulls manage to stay above 0.6490 without exhausting their strength, they will have a chance to overcome the MACD line and climb above the level of 0.6523. In this case, the nearest targets will be 0.6576 and 0.6612. Clearly, the main events will occur on Wednesday, the day when the Federal Reserve will announce its monetary policy decisions.
On the 4-hour chart, the price is balancing on the MACD line, and the Marlin oscillator is on the zero line. However, since all of this is happening above the balance line, there is slightly more advantage to the upside. But this is the current trend for today. Overall, consolidation is expected below the resistance level of 0.6490
The material has been provided by InstaForex Company – www.instaforex.com
AUD/USD:
On the daily chart, the Australian dollar is trying to rise above the balance (red) and MACD (blue) indicator lines. A downtrend, but there is one positive point – the Marlin oscillator is in the bullish territory. However, the growth is weak, and once the signal line returns to negative territory, the price will fall below the nearest support at 0.6388 and then towards the target level of 0.6295.
If the bulls manage to stay above 0.6490 without exhausting their strength, they will have a chance to overcome the MACD line and climb above the level of 0.6523. In this case, the nearest targets will be 0.6576 and 0.6612. Clearly, the main events will occur on Wednesday, the day when the Federal Reserve will announce its monetary policy decisions.
On the 4-hour chart, the price is balancing on the MACD line, and the Marlin oscillator is on the zero line. However, since all of this is happening above the balance line, there is slightly more advantage to the upside. But this is the current trend for today. Overall, consolidation is expected below the resistance level of 0.6490
The material has been provided by InstaForex Company – www.instaforex.com
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