Forecast for AUD/USD on July 11, 2019

Unfortunately, the output of the Australian dollar under the accumulation of support on the daily chart was false. Even the signal line of the Marlin oscillator, noting the transition to the zone of negative numbers, returned to the territory of growth. Now, before the price opens the prospect of growth, the upper limit of the price channel is in the area of 0.7028.

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But to continue the growth of the price, it is still necessary to exit the MACD line on a smaller, four-hour chart, above the mark of 0.6992, and while this has not happened, the growth appears to be limited to this MACD line. Empirically, price fluctuations in the areas of strong technical lines, both graphical and indicator, indicates that the price is in the zone of free wandering.

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