Support & Resistance

Forecast for AUD/USD on October 27, 2022

The Australian dollar took full advantage of the rise in counter-dollar currencies, gaining 103 points yesterday. The price has come close to the target range of 0.6514/32, supported right now by the MACD indicator line of the daily time scale, so the price is correcting downward at the moment.

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The growth potential has not been exhausted, but to open it, it is required to overcome the upper limit of the target range of 0.6532, which will automatically lead to an exit above the MACD line.

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On a four-hour scale, the price is declining with the Marlin Oscillator. It looks like a correction. The nearest support is the 0.6453 level, and if it fails, the correction will deepen to 0.6392. A deeper decline may already indicate a recovery in the medium-term fall of the aussie.

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


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