FX.co ★ Forecast for AUD / USD for November 15, 2018

AUD / USD

This morning, the Australian dollar has reached the upper limit of the price channel. The increase was due to the release of good employment data for October. In particular, the unemployment rate was kept at 5.0% against the pessimistic forecast of increase to 5.1%. In contrast with the 19.9 thousand total job expectancy, 32.8 thousand new jobs were created. But today, the United States can benefit from the price back. Retail sales for October are expected to increase by 0.6%. Also, on Friday, the industrial production is expected to increase. The forecast is 0.2%. The capacity utilization rate may increase from 78.1% to 78.3%.

We are waiting for the Australian decline to support the trend line of the price channel in the area of 0.7118. However, this scenario lurks one danger. On the four-hour chart, the Marlin oscillator signal line appeared a pronounced growth. It is possible that the resistance of the price channel will be able to overcome, which nevertheless, does not cancel our main scenario. The price channel will somewhat expand. Perhaps, the final stop will occur at 0.7316 and the maximum was reported on September 26.