Forecast for AUD/USD on November 5, 2021

The Australian dollar continues its planned decline to the target support of 0.7320 - to the MACD line on the daily chart. The price left the 0.7414/45 range and there are no obstacles on its way to the target. The Marlin Oscillator continues to decline in the downtrend zone.

analytics61849efd6839e.jpg

On the four-hour time scale, the price consolidated below the support range of 0.7414/45, which has now become resistance.

analytics61849f0f75396.jpg

It is noteworthy that before leaving it down, the price made a false upward exit (it is marked with a gray oval), this is a sign of a subsequent deeper and more prolonged fall. While we are waiting for the price on the daily MACD line in the area of 0.7320.

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

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this:

Forward
Backward