Forecast for AUD / USD on September 9, 2019


Last Friday, the price reached the goal that it was striving so hard for - the point of intersection of two lines of different-speed price channels on the daily chart - 0.6856. In the previous review, we assumed a price reversal from this resistance due to the departure of the Marlin oscillator signal line on the four-hour chart to the overbought zone, however, Marlin showed a trick - it was discharged with continued price growth. In this case, the price may exit above the level of 1.6856, and perhaps, the price will increase to 0.6912 - the minimum of July 10, it is possible that this exit will be much weaker.


If the "Australian" changes its mind to make such a false exit up, the price will be waiting for a reversal down from the current levels today. The first goal will be to support the MACD line at the four-hour 0.6787. Consolidating under the line opens the possibility of a decline to the support of the price channel at daily 0.6685, which is very close to the minimums of August and September.


The material has been provided by InstaForex Company -