empty
 
 
16.05.2024 05:20 AM
Forecast for AUD/USD on May 16, 2024

AUD/USD

Yesterday, the Australian dollar strengthened along with other commodity-linked currencies, covering the entire range of target levels between 0.6627 and 0.6690.

This image is no longer relevant

In today's Asian session, the price even tried to reach the target level of 0.6730. However, it failed due to the release of Australia's unemployment data, which increased from 3.9% to 4.1%. Nevertheless, we expect the price to reach this target level after the current correction. Once the aussie hits 0.6730, it will likely reverse into a medium-term decline, in synch with European currencies.

This image is no longer relevant

On the 4-hour chart, the price dropped below the support level of 0.6690, and the Marlin oscillator turned into a local correction. The MACD line at 0.6642 serves as support for the correction.

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 $5000 more!
    In November we raffle $5000 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

Ҳозир телефон орқали гаплаша олмайсизми?
Саволингизни беринг чатда.
Widget callback