Forecast for AUD / USD pair on January 9, 2019

AUD / USD pair

The Australian dollar has fully fulfilled the growth potential to the MACD line on a daily scale. We are waiting for price reversal from current levels due to the speculative nature of the observed growth in the Past three days. On Monday, the indicator of business activity in the manufacturing sector showed a decline from 51.3 to 49.5 in December. On Tuesday, Australia's trade balance estimate showed a decrease from 2.01 billion dollars in November and revised down from 2.32 billion to 1.93 billion dollars. Today, the number of permits issued for new construction showed a decrease of -9.1% in November. Commodities grow a little, but gold, as a leading indicator of market sentiment as a commodity, is falling for the second day.

We look forward to reducing the "Australian" to the support line MACD on the four-hour timeframe in the area of 0.7050. Overcoming support opens up the prospect of 0.6785, supporting the daily price channel.

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