empty
 
 
11.10.2024 07:27 AM
Forecast for AUD/USD on October 11, 2024

The Australian dollar became tired of waiting for a reversal from the euro and the pound and decided to take the lead itself. This decision was bolstered by the recovery in commodity markets. Currently, the price is testing the resistance level defined by the daily balance indicator line. The MACD line is slightly higher (0.6775), and a break above this level would set a target of 0.6827.

This image is no longer relevant

Investors are anticipating new stimulus measures from China during the upcoming weekend. The Australian dollar may react to them with growth; the magnitude of this appreciation will depend on the specific measures implemented.

This image is no longer relevant

On the four-hour chart, the Marlin oscillator has settled in the zone of an upward trend. The price is consolidating before a potential breakout above 0.6775. The balance indicator line is also nearby.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback