Trading Conditions
Products
Tools
AUD/USD
Yesterday, the Australian dollar strengthened along with other commodity-linked currencies, covering the entire range of target levels between 0.6627 and 0.6690.
In today's Asian session, the price even tried to reach the target level of 0.6730. However, it failed due to the release of Australia's unemployment data, which increased from 3.9% to 4.1%. Nevertheless, we expect the price to reach this target level after the current correction. Once the aussie hits 0.6730, it will likely reverse into a medium-term decline, in synch with European currencies.
On the 4-hour chart, the price dropped below the support level of 0.6690, and the Marlin oscillator turned into a local correction. The MACD line at 0.6642 serves as support for the correction.
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.