Forecast for AUD/USD on November 18, 2021

The US dollar index lost 0.12% yesterday, but the Australian dollar lost even more - 0.52% (38 points), which is probably due to the fall in prices in the commodity markets. Oil dropped 2.96%, copper -2.82%. The aussie continues to fall this morning, the 0.7227 target (Oct 6 low) is likely to be hit. The Marlin Oscillator is weak.

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Nevertheless, on the four-hour chart, the price has the last chance to turn up from the current levels. This chance is represented by the double convergence of price with the Marlin Oscillator. A price exit above the MACD line, above the level of 0.7294, will be the first sign of a reversal. The price reversal will be confirmed by the exit above the daily scale MACD line - above the level of 0.7332.

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

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