AUD / USD
On Friday, the Australian dollar worked out exactly the point of intersection of the upper boundary of the falling price channel and the balance line on a daily chart. On the four-hour chart, the divergence of the price with the oscillator Marlin was formed. Now, waiting for the decision of the Fed on the rate on Wednesday, which is likely to increase from 2.00% to 2.25%, we are waiting for a price turn and its decline to the lower boundary of the channel with an approximate target of 0.6880.
The first obstacle along this path is the Kruzenshtern trend line on the daily chart at a price of 0.7232. This level also corresponds to the maximum of September 13.
Below the level is the support of the Kruzenshtern line on H4, at about 0.7195, then support of the price channel nesting line at 0.7156. This is the prospect for the next few days.
The material has been provided by InstaForex Company -
www.instaforex.com