Forecast for AUD/USD on October 18, 2021

AUD/USD

The growth of the Australian dollar to date has slowed down at the target level of 0.7445. The Marlin Oscillator began a downward reversal and there is a possibility of a correction before further growth. Probably, the level of 0.7445 is strong enough and the entire October growth with only small pullbacks has weakened so much that the price will need to accumulate strength to fight the indicated resistance.

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On the four-hour chart, the Marlin Oscillator is declining towards the lower border of its own consolidation. Exit from it can strengthen the correction. The downward movement is supported by the MACD line at approximately 0.7360.

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The material has been provided by InstaForex Company - www.instaforex.com

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