FX.co ★ Forecast for AUD/USD on October 29, 2019

AUD / USD

On the daily chart, the Australian dollar was reflected from the balance line up with the closing of the day at 17 points. It would seem that the price is moving to the upper boundary of the price channel to the level of 0.6880, but the Marlin oscillator does not confirm this mood.

On the four-hour chart, the price stopped at the resistance of the balance lines and MACD, the Marlin oscillator is a little above the neutral zero line and can easily return to the negative trend zone. In the main scenario, we are waiting for a price reversal from current levels and the price moving towards the first target of 0.6776 - to support the embedded line of the red price channel, near which there is also the MACD line of the daily scale.