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22.10.201809:53 Forex Analysis & Reviews: The forecast for AUD / USD pair on October 22, 2018

Long-term review
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.

AUD / USD pair

Exchange Rates 22.10.2018 analysis

In general, difficulties with the Australian dollar with the market decline are associated with a very strong support for the trend line of the daily price channel, as it turned out. For seven sessions, the price cannot move below it. This morning, the "Australian" once again tried to hit her but was sharply thrown up.

Exchange Rates 22.10.2018 analysis

On the four-hour chart, the price was reinforced by the MACD line. On Friday, a reversal took place there, as well as, today in the Asian session. Asian session. Resistance is the balance line on a daily scale, which has become a tradition since the second decade of July. Indeed, this resistance can be overcome, therefore, with a stronger resistance level, we accept the MACD line (blue) at a price of 0.7160. Now this line is above the line of balance in contrast to the previous story when it was lower and easily overcome by price.

Laurie Bailey
Analytical expert of InstaForex
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