FX.co ★ Forecast for AUD / USD pair on May 20, 2019

AUD / USD pair

On Thursday and Friday last week, the Australian dollar was actively declining, but did not reach the support of the embedded line of the price channel and opened a new week from an increasing gap of 46 points this morning. Thus, convergence with the marlin oscillator was formed on the four-hour chart, which practically worked out taking into account the gap. Now, we are waiting for the closing of the gap forme, and testing the support for the nested line of the price channel in the region of 0.6842.

Inertial continuation of the growth of the "Australian" is also possible. Resistance is in the level of coincidence at the balance line with the MACD line of 0.6930 on the four-hour chart.