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02.04.201906:39 Forex Analysis & Reviews: Forecast for AUD / USD pair on April 2, 2019

Long-term review

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AUD / USD pair

On Monday, the Australian dollar took advantage of the uncertain market buildup and closed the gap provocatively for a long time, which continues until this morning. Partly "Australian" helped the commodity markets as a number of tools indicated good growth. However, the "provocation" naturally turned into a noticeable drop in the Australian currency today in the Asian session. On the daily chart, the price is below the balance lines and MACD. The signal line of the marlin oscillator is in the decline zone and the situation is similar to the four-hour chart.

Taking into account the sharp entry of the price into the accumulation zone of 0.7060-0.7100, we can expect a quick departure of the price under this range. A fixation below it and further decline are anticipated to support the embedded line of the price channel towards the level of 0.6920.

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