The forecast for AUD / USD for October 30, 2018


On Monday, the Australian dollar returned under the embedded trend line, having fallen by a general strengthening of the American dollar by 38 points, but this morning, the "Australian" decided to work out the construction data. Yesterday, sales of new homes in September showed an increase of 1.1%, this morning, the number of permits issued for new construction showed an increase of 3.3% in September.

Visually, the price winds up on the Kruzenshtern line (blue) on a four-hour scale. The current reading of the indicators indicates a high degree of price growth to 0.7132, to the resistance of the Kruzenshtern line of daily scale. Probably, from this line, there will be a price reversal towards the main trend. Fixing at the minimum of yesterday's day will allow the "Australian" to conduct another attack to the nearest line of the price channel, as it was on Friday, only to the level of 0.7000.



The material has been provided by InstaForex Company -