FX.co ★ Forecast for AUD/USD on October 23, 2019

AUD/USD

The Australian dollar turned down without reaching the upper limit of the blue price channel, which began in January 2018. The immediate goal is the coincidence point of the line of the crane price channel with the indicator line of MACD at the price of 0.6788.

On a four-hour chart, reaching the specified level will correspond to consolidating the price below the MACD line, here the price may slightly adjust upwards or form a horizontal consolidation before further decline. The prospects for decline are deep: 0.6675 - the low of October and August, then 0.6620 - support for the red price channel on a daily scale.