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Forecast for AUD/USD for December 18, 2018

AUD/USD

On Monday, the Australian dollar was watching the events on the world market, but when it became clear this morning that the American dollar had lost yesterday, the "Aussie" abruptly went up.

At the moment, the price is struggling with the Krusenstern line resistance on the daily chart, on the four-hour chart it has already crossed the balance line, that is, on the short-term horizon, the balance has shifted towards growth. The Marlin line on H4 is also in the zone of positive numbers. Obviously, the Australian currency again came under pressure from speculators. There may be a short-term increase to 0.7240 without breaking the downward trend, even if the price in this case turns out to be higher than all the existing indicator lines on both scales, it will be a false break of resistance as practicing the readings of the Marlin oscillator on daily and H4. Changes in the Fed's rhetoric towards easing will allow the price to go higher - to 0.7345, and taking into account that the "Aussie" has already expanded the price channel three times over the last month, it can easily do it again.

Formally, since the price is still below the Krusenstern line on the daily chart, the main downward scenario remains. The immediate goal is 0.7140.

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