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25.10.201905:52 Forex Analysis & Reviews: Forecast for AUD/USD on October 25, 2019

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AUD/USD

The Australian dollar significantly dropped yesterday under pressure from the US dollar and falling iron ore prices (-1.53%). The aussie received support from the side of the daily balance line. Now the decline may slightly slow down, but the 0.6788 target, as the closest support for one of the lines of price channels, remains. The MACD line moves below the target level.

The next target at 0.6757 will be achieved with even greater difficulty. The signal line of the Marlin oscillator is close to the transition to the decline zone. The boundary itself is also the resistance to a downward trend.

On a four-hour chart, the price is below the balance lines and MACD, while Marlin in the negative zone. At the moment, the bears are defeating the bulls.

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