empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

07.10.202204:55 Forex Analysis & Reviews: Forecast for AUD/USD on October 7, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday, the Australian dollar showed a strong fall from the target level of 0.6515 to the target level of 0.6385. The lower shadow did not reach the descending line of the price channel by several points, but taking into account fluctuations, errors in the chart, we can accept the target as worked out, since after it the price rebounded upwards. Also, the signal line of the Marlin Oscillator reacted to the price surge with a slight upward reversal.

Exchange Rates 07.10.2022 analysis

Data on employment in the US will be released today. The forecast for new jobs in the non-agricultural sector is 250,000, which is a very good indicator with an unemployment rate of 3.7%. As a result, we are waiting for the price to overcome the support of 0.6385, then the consistent development of the supports of the price channel 0.6360 and 0.6310.

Exchange Rates 07.10.2022 analysis

On a four-hour timescale, the price consolidated under both indicator lines, under the target level of 0.6439. The Marlin Oscillator is already firmly established in the downtrend area.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off