Forecast for AUD / USD pair on July 9, 2019

AUD / USD pair

The Australian dollar declines for the fourth trading session as it approaches the accumulation of important technical support and the breakthrough of which opens room for market bears. The accumulation of these support levels around the level of 0.6938, where the balance lines, MACD and technical support for the price channel line on the daily scale graph are gathered. The signal line of the Marlin oscillator is approaching the border with the territory of the downward trend. Visually, its transition to the zone of negative numbers coincides with the moment the price exits at 0.6938, which further enhances the importance of the moment.

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On the four-hour chart, the price is falling below the indicator lines of balance, MACD, and Marlin, which also indicates a decline in the trend.

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We are waiting for a price breakdown.

The material has been provided by InstaForex Company - www.instaforex.com