Forecast for AUD/USD on February 28, 2019

AUD/USD

Yesterday, the Australian dollar passed without surprises. The price was expected to decline, entrenched under the Krusenstern line on the daily chart. However, the consolidation is not yet complete, as this requires the closure of today to also occur under this line. The price decrease came to a stop on the Krusenstern line on a four-hour chart. A signal to further decrease will be for the price to consolidate under the Krusenstern line (0.7132). The probability of receiving such a signal is high, since on the daily chart the price is also under the red indicator line of the balance, and the signal lines of the Marlin oscillators on both charts are not much, but in the zone of decline.

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We are waiting for the price to support the embedded line of the price channel of 0.6984. The negative option implies another price increase to the upper limit of the price channel (0.7227).

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

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