FX.co ★ Forecast for AUD/USD on October 7, 2019

AUD/USD

The Australian dollar slightly grew more than the European currencies by 30 points last Friday. But today in the Asian session, it played back more than half of the growth. On the daily chart, the candle opened on the balance line, which is a sign of a further decrease, but the gap has not been closed since the opening of the day, which may delay the upcoming reversal. The growth limit is still the double resistance of the price channel line and the MACD line at the price of 0.6795. A reversal of the Marlin line from the boundary with the territory of a growing trend indicates a low probability of working out this resistance.

On the four-hour chart, the MACD line is located in front of the price, overcoming which will be a signal for the development of a further decrease to the nearest target at 0.6650 - to support the price channel on the daily chart.