So, the Australian dollar, as we expected, completed a false exit above the MACD indicator line on the daily chart. Yesterday, after re-working out the target range of 0.6514/32, the price went under the target level of 0.6453, now it is approaching 0.6392. There are no price barriers along the way. Further, after settling below 0.6392, the price may move to the nearest price channel line to the level of 0.6211, the low of October 21st.
On the four-hour chart, the price settled below the MACD line yesterday, Marlin is falling in negative territory at a classic 45-degree angle, the short-term downward trend can be called stable.
The aussie's fall is supported by adjacent markets. Oil is getting cheaper by 0.1% in today's Asian session, tomorrow the UK is expected to release a weak GDP for the 3rd quarter.
Relevance up to 03:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
