AUD / USD pair
On Monday, the Australian dollar closed down by 31 points. In today's Asian session, the price stopped at the intersection of indicator lines between the balance and MACD daily scale. The signal lines of the marlin oscillators of both graphs moved to the growth zone but in the general downward context, these signals may not be informative. Hence, it creates distracting noise. On the other hand, the price cannot overcome the accumulation zone of 0.7060-0.7100, which creates prerequisites for the discharge of the market headed upward to the March 21 maximum at 0.7169, where it will meet the upper border of the price channel.
The return of the "Australian" to the accumulation zone removes the risk of rising prices. Fixing the price under this zone opens the way to the support of the embedded line of the price channel at 0.6932 then extends to the target of 0.6812.
The material has been provided by InstaForex Company - www.instaforex.com