For Traders

Analytical Reviews

Technical analysis

20.02.201908:38 Forex Analysis & Reviews: Forecast for AUD/USD on February 20, 2019

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

On Tuesday, the Australian dollar grew by 34 points, following the general direction of the European currencies. The aussie's growth was stopped by the resistance line of the Krusenstern daily scale (0.7173). Consolidating the price above the level opens a target of 0.7243 - the upper limit of the daily price channel.

But on the four-hour chart, a double convergence was formed with the Marlin oscillator, which is a sign of a price reversal from current levels. Estimated reversal might support the Krusenstern line on H4 (0.7105), that is, to a low of yesterday, or even deeper, to support the price channel line of the daily chart at 0.7010.

The probabilities of both options for the development of prices are equal.

Back to the list

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.