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26.10.201815:42 Forex Analysis & Reviews: The forecast for AUD / USD on October 26, 2018

Long-term review

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AUD / USD

On Thursday, the Australian dollar against the common market ended the day with an increase, and even closed on the daily chart above the trend line of the price channel. Growth was halted by a four-hour balance line. This morning, the price could not stand this far from the right moment of growth and sharply collapsed down, breaking the support of the lows of the first decade of October.

Apparently, the fall is only gaining momentum. Oil and other commodities are falling. In the evening, an optimistic estimate of US GDP for the 3rd quarter is expected, with a forecast of 3.3%. The nearest technical support for the trend nested line of the price channel at 0.7018 is about to be overcome and a new target will open at 0.6922.

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