FX.co ★ Forecast for AUD/USD on November 6, 2019

AUD/USD

On Tuesday, the price pierced the resistance of the trend line of the price channel on the daily chart for the fourth consecutive session. The way out of the resistance was unsuccessful and a reversal divergence formed on the Marlin oscillator. At the same time, the signal line of the oscillator came out of its own channel (turquoise) down. The aim of the decrease is the price level at 0.6810, at which the support of October 24-28, the MACD line and the price can meet.

On a four-hour chart, the price has consolidated below the MACD line, the Marlin indicator shows a steady decline in the trend, the price remains consolidated under the red line of balance. This is likely to happen with the price breaking yesterday's low (0.6878).