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17.10.201906:04 Forex Analysis & Reviews: Forecast for AUD/USD on October 17, 2019

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AUD/USD

The Australian dollar consolidated yesterday under the indicator lines of balance and MACD on the daily chart, but today returned above them, almost reaching the line of the red price channel. Consolidation above the line (0.6800) opens up the prospect of growth to 0.6900 - to the upper boundary of the blue price channel. In general, the aussie is trading in the accumulation range on August 7-27, therefore it is in a completely neutral situation, even the Marlin signal line along the border (zero line) winds a sine wave.

On a four-hour chart, the price is formally in a growing position - above the indicator lines, Marlin in the territory of positive numbers. But the situation may change under the pressure of the higher timeframe. Consolidating the price below the MACD line (0.6745) will spin the bearish flywheel with the target of 0.6633 (daily).

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