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22.10.201809:53 Forex Analysis & Reviews: The forecast for AUD / USD pair on October 22, 2018

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AUD / USD pair

In general, difficulties with the Australian dollar with the market decline are associated with a very strong support for the trend line of the daily price channel, as it turned out. For seven sessions, the price cannot move below it. This morning, the "Australian" once again tried to hit her but was sharply thrown up.

On the four-hour chart, the price was reinforced by the MACD line. On Friday, a reversal took place there, as well as, today in the Asian session. Asian session. Resistance is the balance line on a daily scale, which has become a tradition since the second decade of July. Indeed, this resistance can be overcome, therefore, with a stronger resistance level, we accept the MACD line (blue) at a price of 0.7160. Now this line is above the line of balance in contrast to the previous story when it was lower and easily overcome by price.

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